Crypto investors are waiting for U.S. inflation data that could influence the Fed's tightening plans and inject volatility into the market. reports godbole17
U.S. consumer prices probably rose 1.1% in June, pushing the year-on-year change to a four-decade high of 8.8%, FXStreet data show. A reading above that could bring renewed selling pressure to risk assets, including bitcoin.
Fed fund futures show expectations for a 75 basis points rate increase later this month are fully priced in. Traders have also baked in a 50 basis point hike in September and 25 basis points raises in November and December. The central bank has raised rates by 150 basis points to the 1.5%-1.75% range since March.
"We believe it is largely priced in, but any deviation from the forecast will bring huge volatility. Bitcoin has been trading heavily 'risk off' since Sunday in anticipation of macro news this week and is approaching recent support." The monthly U.S. inflation reports have persistently injected volatility into the bitcoin market this year, with above-forecast figures leading to price declines."It’s either a bear-flag or an wedge/consolidation formation [on bitcoin's daily chart] around the monthly open. Either way it does look similar to the May – June [pre-CPI] setup."
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Canadian Dollar Forecast: USD/CAD Eyes Major BoC, US CPI RisksAggressive BoC Hikes incoming as the inflation outlook continues to deteriorate. Get your market update from JMcQueenFX here:
Consulte Mais informação »
US: Headline CPI to hit new high in June, but core prices to decline – TD SecuritiesOn Wednesday, June inflation data is due in the US. The CPI is expected to rise to a new post-COVID high. According to analysts from TD Securities, th
Consulte Mais informação »
LeBron James Criticizes US Response to Brittney Griner Case in ‘The Shop' PreviewThe Lakers star’s remarks come a week after Brittney Griner’s head coach publicly questioned if James would have been in detention as long as she has been if he were in a similar situation.
Consulte Mais informação »
AUD/USD eyes 0.6800 mark ahead of US CPI, upside potential seems limitedThe AUD/USD pair built on the overnight bounce from the 0.6700 neighbourhood, or over a two-year low and edged higher for the second straight day on W
Consulte Mais informação »
GBP/USD surrenders its modest intraday gains, flat-lined below 1.1900 ahead of US CPIThe GBP/USD pair struggled to capitalize on its intraday positive move and attracted fresh sellers near the 1.1935 region on Wednesday. The pair surre
Consulte Mais informação »
Yellen sees U.S. economy as very strong despite inflation - senior officialU.S. Treasury Secretary Janet Yellen will emphasize the strength of the U.S. economy despite high inflation and a 1.6% annualized drop in first quarter gross domestic product when she meets with Japanese Finance Minister Shunichi Suzuki on Tuesday, a senior Treasury official told reporters.
Consulte Mais informação »