Crypto NewsBitcoinLast minute! US Inflation Data Released, How Did Bitcoin and Dollar React?

Last minute! US Inflation Data Released, How Did Bitcoin and Dollar React?

Inflation data has been announced.

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Expected critical inflation data in the USA were announced. Here is the data disclosed:

  • Consumer price index Monthly – Announced: 0.1% – expected 0.2%
  • Consumer price index Annual – Announced: 4.0% – expected: 4.1%
  • Core consumer price index Monthly – Announced: 0.4% – expected: 0.4%
  • Core consumer price index Annual – Announced: 5.3% – expected: 5.3%

Bitcoin and Dollar's Initial Reaction

The first reaction of Bitcoin and dollar after the announced data is as follows:

FED Will Announce Its Interest Rate Decision Tomorrow

The fact that the inflation data to be announced today was below expectations raised the expectation that the interest rate would be kept constant.

Here, there will be a difference between the FED's stopping the interest rate hikes and the passing of the rate hike specifically for this meeting, and the explanations regarding this in the interest rate decision text will be determinative in the direction of the markets.

Although economists say that the probability of the Fed not increasing interest rates at tomorrow's meeting is strong, they do not expect a message that interest rate hikes have stopped. The Fed is expected to reiterate its message that it will continue to make monetary policy decisions based on data.



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