PPI lands Friday at 8:30 AM ET, and it is the next big test after a hot CPI. Here is what I am watching. 📰
FinanceFeeds reports October headline CPI rose 0.4 percent on the month against a 0.3 percent consensus, with core at 0.3 percent for a third straight month, and producer price data for October lands Friday at 8:30 AM Eastern. 📊 CME FedWatch showed the odds of a 50 basis point December hike rising from 1.1 percent to 15.3 percent after the CPI data, with 84.7 percent on a 25 basis point move, while Polymarket priced an 85 percent chance of a hike. My reading is that a hot PPI would lock in the hawkish December story and push Bitcoin toward 70,000 dollars, while a soft PPI is the only clean trigger for a bounce back above 74,900 dollars.
Does Friday PPI come in hot like CPI, or give the market a breather? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #PPI
FinanceFeeds reports October headline CPI rose 0.4 percent on the month against a 0.3 percent consensus, with core at 0.3 percent for a third straight month, and producer price data for October lands Friday at 8:30 AM Eastern. 📊 CME FedWatch showed the odds of a 50 basis point December hike rising from 1.1 percent to 15.3 percent after the CPI data, with 84.7 percent on a 25 basis point move, while Polymarket priced an 85 percent chance of a hike. My reading is that a hot PPI would lock in the hawkish December story and push Bitcoin toward 70,000 dollars, while a soft PPI is the only clean trigger for a bounce back above 74,900 dollars.
Does Friday PPI come in hot like CPI, or give the market a breather? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #PPI
