According to Odaily Planet Daily, according to Informa Global Markets analysis, the overall US CPI slowed to 2.5% year-on-year in August, in line with expectations and the lowest level since February 2021. The core inflation rate remained at 3.2%, which was also in line with expectations. The market noted that the higher-than-expected core inflation rate was 0.3% on a monthly basis, which prompted the dollar to rise against the yen from 141.80 to 142.35. The data supports the Fed's 25 basis point rate cut next week and should rule out the possibility of a larger 50 basis point rate cut.
● Morgan Asset Management Strategist: Inflation has dropped to "room temperature"
According to Jinshi Data on September 11, David Kelly, chief global market strategist at Morgan Asset Management, said that the core CPI data in July was slightly higher than market expectations, but today's data was more of a "noise than news." He added that inflation has dropped to "room temperature," suggesting that there is no "significant" inflation problem. Kelly said that overall, inflation is well controlled and there is no sign of deflation.
According to Odaily Planet Daily, the U.S. core CPI monthly rate in August was 0.3%, higher than the expected 0.20% and the previous value was 0.20%.
● Blackstone Group is cautiously optimistic about a soft landing of the US economy
According to ChainCatcher, Michael Chae, chief financial officer of Blackstone Group, said the company is cautiously optimistic about a soft landing in the United States, betting that the Fed's efforts to curb inflation will not trigger a recession. Blackstone's inflation measure shows that US inflation has reached 1.7%, excluding housing costs and adding other related indicators.
Chae said that would allow the U.S. to meet the Fed’s inflation target. Chae said the Blackstone data showed a softening labor market. CEOs of Blackstone portfolio companies in a June survey expected slower wage growth next year. Despite slower revenue growth, companies are showing resilient profit margins.
Chae also mentioned signs of a return of “animal spirits” in the trading market, and if the trend continues, the market could be quite strong in 2025.
● Bitcoin price maintains bull flag pattern, seller weakness may indicate bull market recovery
According to BlockBeats, on September 11, according to an analysis released by Coindesk, Bitcoin's weekly MACD has been negative since April, occasionally sending the strongest bearish signal since 2022. But the price of Bitcoin remains in a slightly downward sloping channel between $50,000 and $70,000, forming a "bull flag" pattern, rather than a sharp downward trend, which contradicts the ongoing MACD signal. Trader Thomas N. Bulkowski defines the "bull flag" pattern as a consolidation period, characterized by a slightly downward sloping channel after a steep upward trend, usually followed by a price increase, continuing the previous upward trend. Indicators show that MACD has been bearish since the end of April, coupled with a flag price pattern, suggesting bullish sentiment under the surface price behavior. Sellers failed to form a strong downtrend, and prices were suppressed between $55,000 and $50,000 during panic selling in early August. Long-term weakness in sellers may indicate that the bull market may suddenly revive and usher in price increases.
● Trump and Harris did not mention encryption in Philadelphia debate
According to TechFlow, on September 11, the debate between former US President Trump and current Vice President Harris at the National Constitution Center in Philadelphia, Pennsylvania, ended without mentioning encryption. A campaign spokesman for US Vice President Harris said another debate should be held in October.
● Matrixport report: The US presidential election has limited impact on Bitcoin
According to TechFlow, on September 11, Matrixport's latest report pointed out that although people are paying attention to the impact of the next US president on Bitcoin, in fact, the impact may be more reflected in the regulation of the Bitcoin ecosystem rather than Bitcoin itself. Cryptocurrencies have experienced strong gains during the Republican (2016-2020) and Democratic (2020-2024) administrations. Therefore, despite the media's hot discussion about the upcoming election, Bitcoin is likely to remain positive no matter who enters the White House.
