This week, the market is waiting for the release of the US Consumer Price Index (CPI). Following the recent poor US employment data, this data is particularly important as it will reveal the inflation situation in the economy. Although the strong non-farm payrolls data reduced the possibility of the Federal Reserve cutting interest rates by 50 basis points at the next meeting, expectations of a 25 basis point rate cut still exist.

The US central bank uses CPI data to assess the level of inflation in the country, and it is a key reference indicator for the Federal Reserve when formulating monetary policy.

The market generally predicts that the month-on-month CPI growth in September will drop to 0.1% from 0.2% in August, while the year-on-year inflation rate is expected to drop to 2.3% from 2.5% in August. The core CPI (excluding food and energy price fluctuations) is expected to drop to 0.2% from 0.3% last month, while the core CPI is expected to remain at 3.2% for the full year.

If the inflation data falls as expected, it may boost market sentiment and drive the cryptocurrency market higher. However, if the inflation data is higher than expected, the market may face greater selling pressure.

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