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LIVE
Ualifi Araújo
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Bullish
I don't want to sound like a PhD in Economics (I'm not), but I think the data isn't as bad as people are already saying, so I'll take advantage of the market's terrible reaction to talk about it before everything starts to go up.
1. Producer Price Index (PPI):
The monthly PPI in the US came in at 0.4%, above the projection of 0.2% and the previous value of 0.3%. This signals higher inflation from the producer's perspective. A higher-than-expected reading could reinforce concerns about inflation and lead the Federal Reserve (FED) to maintain or increase interest rates to combat rising prices. This was slightly negative for the Crypto Market, but it's not scary at all and we've had worse and we still went up!
2. Initial Jobless Claims:
Unemployment insurance claims rose to 242,000, above the projection of 221,000 and the previous value of 225,000. This increase indicates some weakening in the labor market, which may lead the FED to consider a more cautious stance on NOT cutting interest rates. This is positive for the Crypto Market.
So, if you look at the data, you will see that it is mixed, but in the general context, the negative impact only came to some currencies and#BTCitself, but it should soon recover and continue rising.
Here the correct reading would be something NEUTRAL since we have equally favorable and unfavorable data, but I don't know what crazy reading the big Crypto ACCOUNTS do and start posting all kinds of nonsense!
I'm not an Economist, but I am a TRADER and I know that if you leave now, you will come back more expensive! ✊🏻🚀
1. Producer Price Index (PPI):
The monthly PPI in the US came in at 0.4%, above the projection of 0.2% and the previous value of 0.3%. This signals higher inflation from the producer's perspective. A higher-than-expected reading could reinforce concerns about inflation and lead the Federal Reserve (FED) to maintain or increase interest rates to combat rising prices. This was slightly negative for the Crypto Market, but it's not scary at all and we've had worse and we still went up!
2. Initial Jobless Claims:
Unemployment insurance claims rose to 242,000, above the projection of 221,000 and the previous value of 225,000. This increase indicates some weakening in the labor market, which may lead the FED to consider a more cautious stance on NOT cutting interest rates. This is positive for the Crypto Market.
So, if you look at the data, you will see that it is mixed, but in the general context, the negative impact only came to some currencies and#BTCitself, but it should soon recover and continue rising.
Here the correct reading would be something NEUTRAL since we have equally favorable and unfavorable data, but I don't know what crazy reading the big Crypto ACCOUNTS do and start posting all kinds of nonsense!
I'm not an Economist, but I am a TRADER and I know that if you leave now, you will come back more expensive! ✊🏻🚀
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