CPI data will be released tonight, early interpretation of bullish and bearish directions
At 9:30 tonight, the highly anticipated CPI data will be released, which will undoubtedly trigger significant market fluctuations. Analyzing market trends in advance, based on past data and market expectations, is particularly important. Let's take a look together at whether tonight's market will be 'bullish' or 'bearish.'
Based on the performance of data over the past few months, since May, the release of CPI data has generally met market expectations, and even several times came in below expectations, which has directly boosted market sentiment. The market expectation for tonight's CPI data is 2.7%. If the data comes in below this level, for example, around 2.6%, the market is likely to experience a wave of positive sentiment, with the 'bullish' side gaining the upper hand.
Even if CPI is ultimately released at 2.7%, historically, this still leans towards a positive outlook. The easing of inflationary pressures will further strengthen market expectations for loose policies or economic stability, benefiting asset prices. Conversely, if the data unexpectedly comes in higher than expected, such as reaching 2.8% or even higher, it may exert some short-term pressure on the market.
Tonight's prediction: Focus on bullish
Based on the analysis above, my personal prediction is that tonight's CPI may be around 2.6%, or even possibly below this level. Even the expected 2.7% data will be interpreted by the market as positive. Therefore, the market leans towards 'bullish,' especially for Ethereum (ETH), which is expected to challenge above $3800.
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