At 8:30 last night, the United States released CPI data:
◆ The annual rate of the US unadjusted CPI in March was 3.5%, expected to be 3.4%, and the previous value was 3.2%
◆ The annual rate of the US unadjusted core CPI in March was 3.8%, expected to be 3.7%, and the previous value was 3.8%
◆ The monthly rate of the US seasonally adjusted CPI in March was 0.4%, expected to be 0.3%, and the previous value was 0.4%
◆ The monthly rate of the US core CPI in March was 0.4%, expected to be 0.3%, and the previous value was 0.4%
The CPI data in March was the highest level since September 2023, and exceeded expectations for three consecutive months. The data shows that inflation is overheating, and progress in curbing inflation may be stagnating. The Federal Reserve will take a more cautious attitude on the issue of interest rate cuts, and the door to the Federal Reserve's interest rate cut in June has almost been closed. After the data was released, the market lowered its expectations for the Federal Reserve's interest rate cuts, postponing the time for the first interest rate cut by the Federal Reserve from September to November; the expectation of the number of interest rate cuts by the Federal Reserve was also lowered from a total of 3 interest rate cuts this year to a total of 2 interest rate cuts; some institutions even believe that the Federal Reserve has no reason to cut interest rates.
The CPI data in March exceeded expectations again, which is bearish for the risk market and will extend the consolidation time of $BTC , but the bullish trend remains unchanged, and the time for the change is getting closer. Wait patiently for the change node.
