There is no doubt that the bull market in the cryptocurrency market will eventually come, but it is likely to be a moderate rise rather than a sharp rebound. This slow rise will be mainly driven by large-scale monetary easing by countries around the world.
However, in the short term, market concerns about the rebound in inflation still exist. The latest employment data was unexpected, and the surge from the previous 140,000 to 250,000 was indeed shocking.
However, this may be a number adjusted for votes. In any case, such a high number of employment makes the inflation data to be released on Thursday particularly important.
At present, the previous value of the Consumer Price Index (CPI) was 2.5%, and the market expected it to drop to 2.3%, which shows the optimism of investors. As for the core CPI, the previous value was 3.2%, and the market expected it to remain at this level.
Therefore, overall, the market did not show too much panic about the upcoming data.
I personally think that the CPI data will most likely fall this time, which will be good news. After all, this is the last inflation data before the election, and some people may take the opportunity to beautify it. Therefore, Thursday's data is worth looking forward to.