Traders anxiously wait for U.S. CPI data
Crypto prices failed to sustain their recent bullish momentum ahead of the April 10 Consumer Price Index (CPI) print that is expected to come in higher than expected.
Commenting on the market reaction, CNBC analyst Sara Min said the release of U.S. inflation data scheduled for April 10 could spark a major move in risk assets as traders wait to see how the Federal Reserve will proceed with interest rates.
The March CPI reading is expected to see a 0.3% increase month-on-month and a 3.4% rise on a yearly basis, according to economists polled by Dow Jones. Core CPI, which excludes food and energy prices, is expected to climb by 0.3% and 3.7%, respectively.
Popular trader and analyst Daan Crypto Trades drew attention to macroeconomic events set for April 10 and 11, including CPI, PPI, Jobless claims and the ECB interest rate decision.
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