Conversely, stronger-than-expected inflation data could increase pressure on the Fed to maintain tighter monetary policy and strengthen the likelihood of a rate hike at the October 28 meeting. In such a scenario, rising US bond yields and the dollar could create short-term selling pressure on Bitcoin.
At this point, the probability of a rate hike in October is priced at 21.6%, while the probability of keeping it unchanged is priced at 78.4%, while the US September inflation data, which the Fed closely monitors when making its interest rate decisions, has been released.
Here are the US inflation figures that have been released:
Consumer Price Index Annual: Announced 3.7% – Expected 3.6% – Previous 3.4%
Consumer Price Index Monthly: Announced 0.6% – Expectation 0.6% – Previous 0.4%
Core Consumer Price Index Annual: Announced 2.6% – Expected 2.5% – Previous 2.4%
Core Consumer Price Index Monthly: Announced 0.3% – Expectation 0.2% – Previous 0.3%
The consumer price index is a key variable used to measure consumer purchasing trends and changes in US inflation.
Bitcoin’s Initial Reaction After the CPI Data!
*This is not investment advice.
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