Crypto Market Sees Brief Relief After Cooler US PPI Data
7 Articles
7 Articles
Crypto market sees brief relief after cooler US PPI data
The crypto market has seen a brief recovery following Friday’s softer than expected US producer inflation report, with Bitcoin rebounding toward $70,000 after heavy selling pushed it below $69,000 earlier in the day. According to the US Producer Price Index…
The US Producer Price Index (PPI) data for October, which is closely watched by markets, has been released.
coin-turk.com
BITRSS📊 Core PPI in the US increased by 0.3% monthly. 📉 The increase was in line with expectations and remained below the 0.7% increase of the previous month. 📈 Bitcoin initially rose from $69,220 to $69,900. Read More: Core producer inflation slowed in the US, Bitcoin reacted positively The article "Core producer inflation slowed in the US, Bitcoin reacted positively" first appeared on COINTURK.
The latest US CPI data released earlier this week exceeded expectations, raising concerns about continued inflationary pressures and strengthening expectations of a Fed interest rate hike. Today's US PPI data is also expected to provide further signals to the markets regarding the trajectory of inflation and the Fed's monetary policy. In this context, a higher-than-expected PPI figure suggests that interest rates will remain high for a longer pe…
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