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⚡️The data is out! Good news is coming!
⚡️The annual rate of the US core PCE price index in July remained stable at 2.6%,
⚡️It was the same as last month. The market expected it to rise to 2.7%, but it didn't.
⚡️The monthly rate also remained stable at 0.2%, which was in line with expectations.
As soon as the data came out, US stock index futures were a little excited and jumped up;
And short-term interest rate futures were a little depressed and fell a little.
Although the direct correlation of the core PCE price index is more in the traditional financial market, the cryptocurrency market is often indirectly affected by macroeconomic data and market expectations.
After the release of this PCE data, since the inflation data was lower than market expectations, it may reduce the market's concerns about the Fed's accelerated interest rate hikes, which in turn constitutes a certain positive for risky assets (including cryptocurrencies).
In the short term, the cryptocurrency market may be boosted by this optimistic sentiment and rebound slightly. However, it should be noted that the cryptocurrency market is highly volatile and is affected by a variety of factors, so the specific trend still needs to be analyzed in combination with other factors.