Attention Traders!
Based on the recent weakness in US labor-market data, especially NFP at -23K and Average Hourly Earnings at 0.1%, the market had room to expect a softer CPI report that could further weaken the US Dollar.
However, today’s CPI data came exactly in line with expectations:
Core CPI m/m: 0.2% vs 0.2% expected
Core CPI y/y: 2.5% vs 2.5% expected
CPI m/m: 0.1% vs 0.1% expected
CPI y/y: 3.4% vs 3.4% expected
This means the market did not receive a fresh dovish surprise, so the probability of another immediate upside move in Gold, Bitcoin, and US stock indices has decreased. In the short term, this increases the risk of a corrective pullback or profit-taking, especially after the recent rallies.
At the same time, inflation is still gradually cooling on a yearly basis, so this is not necessarily a strong bearish signal—more a loss of bullish momentum than a major trend reversal.
#cpi
$BTC
Based on the recent weakness in US labor-market data, especially NFP at -23K and Average Hourly Earnings at 0.1%, the market had room to expect a softer CPI report that could further weaken the US Dollar.
However, today’s CPI data came exactly in line with expectations:
Core CPI m/m: 0.2% vs 0.2% expected
Core CPI y/y: 2.5% vs 2.5% expected
CPI m/m: 0.1% vs 0.1% expected
CPI y/y: 3.4% vs 3.4% expected
This means the market did not receive a fresh dovish surprise, so the probability of another immediate upside move in Gold, Bitcoin, and US stock indices has decreased. In the short term, this increases the risk of a corrective pullback or profit-taking, especially after the recent rallies.
At the same time, inflation is still gradually cooling on a yearly basis, so this is not necessarily a strong bearish signal—more a loss of bullish momentum than a major trend reversal.
#cpi
$BTC