Time to read: Volatility is increasing in the cryptocurrency market and we will have a full 1 week to know about the Fed rate decision. The agenda is very busy. This can be easily understood from the double-digit rise and fall of the price of Bitcoin. Powell had to make a difficult decision, most of which was already in shape. With the release of the latest data, the Fed’s decision to raise interest rates has become more clear.
U.S. producer inflation in February
The U.S. PPI data has just come out and is expected to come in at 5.4%, compared to the previous reading of 6%. Yesterday’s CPI, which was in line with forecasts, suggests Powell still has some way to go. So how did the PPI data come from?
- Expected: 5.4%
- Previous: 6%
- Disclosure: 4.6%
Bitcoin broke through $25,000 again as the PPI data fell well below expectations.
Bitcoin broke through $25,000 again as the PPI data fell well below expectations. The rapid decline in producer inflation will also support the CPI data, as it will have a positive impact on product costs. Falls in inflation, held back especially by higher prices for goods and services, are likely to accelerate as producer costs fall.
Here comes the details.
Information source: compiled from COIN-TURK by 0x information.Copyright belongs to the author Fatih Uçar, without permission, may not be reproduced