Price indices of personal consumption expenditures in the USA are within the forecasts. Inflation in the United States has slowed in line with expectations. The publication of the data itself locally caused increased BTC volatility, but in a range of less than 1%. The price almost reached the volume level of $61,231 again. At first the fall was partially redeemed, but now it has continued again.
Data for May:
- Basic price index of personal consumption expenditures (y/y) (not taking into account food and energy prices) - 2.6%, with a forecast of 2.6% and the previous indicator of 2.8%.
- Price index of personal consumption expenditures (y/y) - 2.6% with a forecast of 2.6% and the previous indicator of 2.7%.
- Expenses of individuals (MoM) - 0.2% with a forecast of 0.3% and the previous indicator of 0.1%.
Thus, price indices decreased, but within the forecast. Which gives limited optimism, the expectation was built into the schedules. But the expenses of individuals turned out to be lower than forecast, but increased. As an inflationary factor, the expenses of individuals remain unchanged.
Let us recall that price indices of personal consumption expenditures are an important indicator that the US Federal Reserve uses to measure inflation.
The market reaction to the generally positive data is weak. But the price index has dropped to its lowest level since March 2021. At least on paper.
So far, the reaction of#BTCis such that the scenario of going to a new local loy from today’s review has received an additional argument. There are reasons for optimism, but the bulls did not appreciate them.
