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#CPIData CHART UPDATE
The Feds are actually asking it to drop to 2018 highs. If we drop to that level, markets will automatically pump.
Will keep you all updated tomorrow
#bitcoin #cryptocurrency #crypto2023 #dyor
The Feds are actually asking it to drop to 2018 highs. If we drop to that level, markets will automatically pump.
Will keep you all updated tomorrow
#bitcoin #cryptocurrency #crypto2023 #dyor
Today's US #CPIData inflation numbers are eagerly awaited. Consensus forecasts suggest a drop in headline inflation from 4% in May to 3.1% in June, indicating more reassuring price data. The crucial factor to watch is the expected decline of core inflation from 5.3% to 5% in June.
Waller, director of the US Fed, "will decide whether to raise interest rates in June, depending on data for the next three weeks"
US Federal Reserve Director Christopher Waller said in a speech on the 24th (local time) that whether or not a rate hike in June will depend on the results of data over the next three weeks. “Depending on the data over the next three weeks, we will discuss whether to raise rates in June or skip June and raise rates in July,” he said. "I do not support a halt in raising rates. I am concerned that the inflation drop may not be enough."
#US #FED #SEC #CPIData #crypto2023
US Federal Reserve Director Christopher Waller said in a speech on the 24th (local time) that whether or not a rate hike in June will depend on the results of data over the next three weeks. “Depending on the data over the next three weeks, we will discuss whether to raise rates in June or skip June and raise rates in July,” he said. "I do not support a halt in raising rates. I am concerned that the inflation drop may not be enough."
#US #FED #SEC #CPIData #crypto2023
LIVE
koinmilyoner
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Bitcoin Price Jumps Above $26,400 As CPI Turns Out Better Than Expected
The blockbuster week for crypto and Bitcoin gets rolling today. After the Hinman documents in the legal dispute between Ripple Labs and the US Securities and Exchange Commission (SEC) were released a few hours ago, the U.S. Bureau of Labor Statistics announced the inflation rates for the month of May in the United States of America at 8:30 am EST.
The data was expected with high expectations as it could signal a rapid drop in inflation on the one hand, while on the other hand it is likely to be an important basis for tomorrow’s interest rate decision by the US Federal Reserve (Fed).
For the first time since March 2022, when the Fed began its rate hike cycle, the US central bank could announce a rate pause. Experts expect that risk assets like Bitcoin and crypto could benefit greatly.
CPI Comes Out A Little Better Than Expected
And the release of the CPI sets a good basis for that. The U.S. Bureau of Labor Statistics announced that the consumer price index (CPI) fell to 4.0% on an annual basis (YoY). The estimate was 4.1% year-over-year, which means the market is getting a positive surprise.
On a monthly basis (month-over-month, MoM), the headline CPI rose 0.1%, expected was +0.2%. So, this means another positive surprise for risk assets.
However, of particular importance this time was again the core inflation data. The estimate for the core YoY rate was 5.3%. This estimate was met exactly with 5.3%. The core inflation rate MoM was expected at +0.4% and also turned out to be at +0.4% in May.
CPI Release - Here we go
CPI (YoY) (May) comes in at 4.0% Vs. 4.1% Est.
CPI (MoM) (May) comes in at 0.1% Vs. 0.2% Est.
Core CPI (YoY) (May) comes in at 5.3% Vs. 5.3% Est.
Core CPI (MoM) (May) comes in at 0.4% Vs. 0.4% Est.
So all in all, there is a clear trend towards disinflation for the headline inflation, however, the core rates remain sticky. While the headline CPI was still at 4.9% in April and has now fallen by another 4.0%. The core rate also shows a declining trend, even if the Fed as well as investors would probably like to see a faster drop. In April, the core rate YoY was 5.5%, down to 5.3% in May.
What Does The CPI Print Mean For Bitcoin And Crypto?
After briefly jumping above $26.400 after the release, the #Bitcoin price fell back to the pre-CPI release level of around $26.166 at press time. The market is thus reacting cautiously to the news, partly because the surprise was minimal and core inflation is proving sticky.
All eyes will thus be on the Fed and its chairman Jerome Powell tomorrow. In particular, the words of the #Fed Chairman during the FOMC press conference will be crucial. The question is whether Powell will acknowledge disinflation or not rule out further interest rate hikes. Credit Suisse, however, expects a rapid drop in inflation over the next months:
Our work indicates that Y/Y inflation is likely to fall to 4.2% in May, 3.2% in June. This would represent one of the greatest drops experienced in a 2-month period over the past 70 years. (J. Golub)
The data was expected with high expectations as it could signal a rapid drop in inflation on the one hand, while on the other hand it is likely to be an important basis for tomorrow’s interest rate decision by the US Federal Reserve (Fed).
For the first time since March 2022, when the Fed began its rate hike cycle, the US central bank could announce a rate pause. Experts expect that risk assets like Bitcoin and crypto could benefit greatly.
CPI Comes Out A Little Better Than Expected
And the release of the CPI sets a good basis for that. The U.S. Bureau of Labor Statistics announced that the consumer price index (CPI) fell to 4.0% on an annual basis (YoY). The estimate was 4.1% year-over-year, which means the market is getting a positive surprise.
On a monthly basis (month-over-month, MoM), the headline CPI rose 0.1%, expected was +0.2%. So, this means another positive surprise for risk assets.
However, of particular importance this time was again the core inflation data. The estimate for the core YoY rate was 5.3%. This estimate was met exactly with 5.3%. The core inflation rate MoM was expected at +0.4% and also turned out to be at +0.4% in May.
CPI Release - Here we go
CPI (YoY) (May) comes in at 4.0% Vs. 4.1% Est.
CPI (MoM) (May) comes in at 0.1% Vs. 0.2% Est.
Core CPI (YoY) (May) comes in at 5.3% Vs. 5.3% Est.
Core CPI (MoM) (May) comes in at 0.4% Vs. 0.4% Est.
So all in all, there is a clear trend towards disinflation for the headline inflation, however, the core rates remain sticky. While the headline CPI was still at 4.9% in April and has now fallen by another 4.0%. The core rate also shows a declining trend, even if the Fed as well as investors would probably like to see a faster drop. In April, the core rate YoY was 5.5%, down to 5.3% in May.
What Does The CPI Print Mean For Bitcoin And Crypto?
After briefly jumping above $26.400 after the release, the #Bitcoin price fell back to the pre-CPI release level of around $26.166 at press time. The market is thus reacting cautiously to the news, partly because the surprise was minimal and core inflation is proving sticky.
All eyes will thus be on the Fed and its chairman Jerome Powell tomorrow. In particular, the words of the #Fed Chairman during the FOMC press conference will be crucial. The question is whether Powell will acknowledge disinflation or not rule out further interest rate hikes. Credit Suisse, however, expects a rapid drop in inflation over the next months:
Our work indicates that Y/Y inflation is likely to fall to 4.2% in May, 3.2% in June. This would represent one of the greatest drops experienced in a 2-month period over the past 70 years. (J. Golub)
Market lowers expectations for Wednesday's CPI data
All of this is helping to set up further downside expectations for Wednesday’s CPI, which is expected to see a (rounded) 0.3% MoM / 5% YoY gain in core CPI based on Street consensus. Certain sell-side research (such as GS) is expecting further downside towards 0.2% MoM in core, thanks to large downward contributions from car prices and shelter OER.
The friendly data backdrop helped spark a relief rally in global fixed income after its recent sell-off, with 5y yields falling -11bp on the day and helping equities to edge out a small gain after some early weakness, after an otherwise quiet summer trading day.
#CPIData
All of this is helping to set up further downside expectations for Wednesday’s CPI, which is expected to see a (rounded) 0.3% MoM / 5% YoY gain in core CPI based on Street consensus. Certain sell-side research (such as GS) is expecting further downside towards 0.2% MoM in core, thanks to large downward contributions from car prices and shelter OER.
The friendly data backdrop helped spark a relief rally in global fixed income after its recent sell-off, with 5y yields falling -11bp on the day and helping equities to edge out a small gain after some early weakness, after an otherwise quiet summer trading day.
#CPIData
CPI shows weakness😧
Core CPI came in at 0.157% MoM in June, weaker than consensus expectations at 0.3%, with YoY readings falling to 4.8% from 5.3% in May. Core goods prices 0.1% MoM, with a 0.5% decline in used car prices, while shelter prices also continued to slow, with primary rents and OER both missing expectations. The surprising weakness in core CPI was in core non-shelter services, which rose a mere 0.06% MoM, as well as a sharp 8.1% drop in airfares. Even against lowered expectations, the CPI print came in undoubtedly weaker, with Powell's preferred PCE measure showing a precipitous decline from 5.1% in Feb 2023 to 1.4% in June.
#CPIData #prices #rent #PCE #OER
Core CPI came in at 0.157% MoM in June, weaker than consensus expectations at 0.3%, with YoY readings falling to 4.8% from 5.3% in May. Core goods prices 0.1% MoM, with a 0.5% decline in used car prices, while shelter prices also continued to slow, with primary rents and OER both missing expectations. The surprising weakness in core CPI was in core non-shelter services, which rose a mere 0.06% MoM, as well as a sharp 8.1% drop in airfares. Even against lowered expectations, the CPI print came in undoubtedly weaker, with Powell's preferred PCE measure showing a precipitous decline from 5.1% in Feb 2023 to 1.4% in June.
#CPIData #prices #rent #PCE #OER
The annual rate of #CPIData in the United States in June is 3%, expected to be 3.1%, and the previous value was 4.0%.
The annual rate of core CPI in the United States in June is 4.8%, expected to be 5.0%, and the previous value was 5.3%.
The annual rate of core CPI in the United States in June is 4.8%, expected to be 5.0%, and the previous value was 5.3%.
BREAKING!
- US Headline inflation fell to 4.9% in April, below expectations.
First time below 5% in two years.
- Core #CPIData dropped to 5.5%, matching expectations.
- This does not mean the FederalReserve will cut rates in September!
#coingabbar #crypto2023 #dyor #Binance
- US Headline inflation fell to 4.9% in April, below expectations.
First time below 5% in two years.
- Core #CPIData dropped to 5.5%, matching expectations.
- This does not mean the FederalReserve will cut rates in September!
#coingabbar #crypto2023 #dyor #Binance
Should Bitcoin Investors Be Worried? FED’s Interest Rate Meeting is Approaching!
Amidst current price fluctuations, BTC continues to trade within a wedge formation.
If the price remains above the trendline, a successful breakout from the wedge formation can be expected.
Next week, US inflation data and the Federal Reserve’s interest rate will be announced.
As Bitcoin continues to trade below $27,000, critical economic data in the US is approaching!
Will Bitcoin Fall Below $25,000 Again?
Amidst current price fluctuations, BTC continues to trade within a wedge formation and is currently positioned above an important trendline on the daily timeframe.
If the $BTC price remains above the trendline, a successful breakout from the wedge formation can be expected, resulting in a 20% to 25% increase. In the event of a rejection, a drop towards $21,500 is inevitable.
BTC/USDT 1 Day Price Chart
In a surprising development, over 1400 BTC from an address that has been inactive for over 10 years has become active again. A transaction of 1432.92 BTC was sent in block 793344, and a new wave of volatility can be expected in the markets. In addition, US CPI and FOMC (Federal Open Market Committee) are scheduled for next week, which could further increase volatility.
In the long term, the leading cryptocurrency Bitcoin continues to maintain a bullish trend, and the current downturn may resemble an accumulation period for the upcoming rise. Therefore, in the short term, the levels mentioned above should be closely monitored to determine the next move for BTC price.
US CPI and Fed Interest Rate Announcement Approaching
Cryptocurrencies can be affected by critical economic developments in the US, creating volatility in the market. Next week, US inflation data and the Federal Reserve’s interest rate will be announced.
US annual inflation data will be announced on Tuesday, June 13th at 3:30 PM Turkish time. The previous year’s annual inflation data was announced as 4.9%. The Federal Reserve (FED) will announce its interest rate decision on Wednesday, June 14th at 9:00 PM Turkish time. The current interest rate is 5.25%
Currently, the markets expect interest rates to remain unchanged. According to CME Group’s expectations, the probability of interest rates remaining unchanged is 70.1%. The probability of a 25 basis point increase in interest rates is 29.9%. The FED raised interest rates by 25 basis points at its previous meeting.
#bitcoin #BTC #CPIData #FED #InterestRate
If the price remains above the trendline, a successful breakout from the wedge formation can be expected.
Next week, US inflation data and the Federal Reserve’s interest rate will be announced.
As Bitcoin continues to trade below $27,000, critical economic data in the US is approaching!
Will Bitcoin Fall Below $25,000 Again?
Amidst current price fluctuations, BTC continues to trade within a wedge formation and is currently positioned above an important trendline on the daily timeframe.
If the $BTC price remains above the trendline, a successful breakout from the wedge formation can be expected, resulting in a 20% to 25% increase. In the event of a rejection, a drop towards $21,500 is inevitable.
BTC/USDT 1 Day Price Chart
In a surprising development, over 1400 BTC from an address that has been inactive for over 10 years has become active again. A transaction of 1432.92 BTC was sent in block 793344, and a new wave of volatility can be expected in the markets. In addition, US CPI and FOMC (Federal Open Market Committee) are scheduled for next week, which could further increase volatility.
In the long term, the leading cryptocurrency Bitcoin continues to maintain a bullish trend, and the current downturn may resemble an accumulation period for the upcoming rise. Therefore, in the short term, the levels mentioned above should be closely monitored to determine the next move for BTC price.
US CPI and Fed Interest Rate Announcement Approaching
Cryptocurrencies can be affected by critical economic developments in the US, creating volatility in the market. Next week, US inflation data and the Federal Reserve’s interest rate will be announced.
US annual inflation data will be announced on Tuesday, June 13th at 3:30 PM Turkish time. The previous year’s annual inflation data was announced as 4.9%. The Federal Reserve (FED) will announce its interest rate decision on Wednesday, June 14th at 9:00 PM Turkish time. The current interest rate is 5.25%
Currently, the markets expect interest rates to remain unchanged. According to CME Group’s expectations, the probability of interest rates remaining unchanged is 70.1%. The probability of a 25 basis point increase in interest rates is 29.9%. The FED raised interest rates by 25 basis points at its previous meeting.
#bitcoin #BTC #CPIData #FED #InterestRate
Market interest shifts from CPI to trends such as housing and rent
CPI day is here once again, though it feels the market excitement is more muted going into this compared to prior months. This is probably due to the fact that the risk markets have already made up their mind on their risk-on views, and that earlier misses in European inflation stats have lowered expectations going in. Street expectations are for a 0.4% core MoM measure, with the usual components in used cars, hospitality & recreation (heading into summer travel), and shelter inflation to act as the major head-line moving variables. The trajectory in rent is the most interesting to us, as to confirm whether the slowdown in shelter prices from March & April are genuine against the conflicting rebound in residential home prices.
#CPIData
CPI day is here once again, though it feels the market excitement is more muted going into this compared to prior months. This is probably due to the fact that the risk markets have already made up their mind on their risk-on views, and that earlier misses in European inflation stats have lowered expectations going in. Street expectations are for a 0.4% core MoM measure, with the usual components in used cars, hospitality & recreation (heading into summer travel), and shelter inflation to act as the major head-line moving variables. The trajectory in rent is the most interesting to us, as to confirm whether the slowdown in shelter prices from March & April are genuine against the conflicting rebound in residential home prices.
#CPIData
Market remains calm with several data releases👇
Extremely quiet day on Tuesday ahead of CPI with traders carrying much lower risk positions after last week's yield induced stop-outs. 2yr yields continue to struggle breaking out of the 5% psychological level, while the yield curve appears vulnerable to a snap higher as flattener positions remain crowded. Data was similarly light with NFIB small business optimism closing to the highest levels since last November, while the share of businesses raising prices slipped to 2.5 year lows at just 29%. As it has been the case for a while, soft survey data continues to diverge and has been over-pessimistic about the economic outlook, while hard activity data keeps marching to the upside and pushing recession fears further out.
#CPIData #yieldcurve #datanalytics #Economics #prices
Extremely quiet day on Tuesday ahead of CPI with traders carrying much lower risk positions after last week's yield induced stop-outs. 2yr yields continue to struggle breaking out of the 5% psychological level, while the yield curve appears vulnerable to a snap higher as flattener positions remain crowded. Data was similarly light with NFIB small business optimism closing to the highest levels since last November, while the share of businesses raising prices slipped to 2.5 year lows at just 29%. As it has been the case for a while, soft survey data continues to diverge and has been over-pessimistic about the economic outlook, while hard activity data keeps marching to the upside and pushing recession fears further out.
#CPIData #yieldcurve #datanalytics #Economics #prices
📈CPI Inflation data will be released today at 6:00 PM IST.
➡️Estimated rate : 3.1%
➡️Previous rate : 4%
➡️Below 3.1% is bullish, above 3.1% is bearish.
📊Market can be volatile so be careful with high leverages.
#cpidata #GOATMoments #CPIData
➡️Estimated rate : 3.1%
➡️Previous rate : 4%
➡️Below 3.1% is bullish, above 3.1% is bearish.
📊Market can be volatile so be careful with high leverages.
#cpidata #GOATMoments #CPIData
