While the leading cryptocurrency rose above $61,000 following the US PPI data announced yesterday, the critical inflation data expected from the US was announced today.
Here is the data disclosed:
Consumer Price Index Annual: Announced 2.9% – Expected 3.0% – Previous 3.0%
Consumer Price Index Monthly: Announced 0.2% – Expected 0.2% – Previous -0.1%
Core Consumer Price Index Annual: Announced 3.2% – Expected 3.2% – Previous 3.3%
Core Consumer Price Index Monthly: Announced 0.2%– Expected 0.2%– Previous 0.1%
The consumer price index is an important variable used to measure consumer purchasing trends and U.S. inflation changes.
A higher than expected value means positive/bullish for the USD, a lower than expected value means negative/bearish for the USD.
Bitcoin and Dollar's First Reaction After CPI Data!
*This is not investment advice.