August 12 Market Outlook: Tonight’s CPI Data Guidance and Recent Asset Price Movement Analysis
The CPI data to be released tonight has drawn significant attention, as it will directly serve as a key indicator for whether the September rate hike will be carried out. Broad expectations place the year-over-year CPI increase at 3.4%, and based on current market sentiment, the probability of implementing a rate hike in September is roughly 40%.
In the digital asset space, BTC and ETH are still maintaining a range-bound, choppy consolidation. The direction of any short-term breakout remains unclear. However, it’s worth noting that the recent performance of SOL/BTC appears particularly strong. This upward momentum is mainly driven by a steady stream of positive catalysts, including the Agave v4.2 network upgrade officially scheduled to be rolled out on August 17, as well as highly anticipated deflationary governance proposal(s) discussed in the market.
As for precious metals, after gold has carved out a stretch of consecutive rallying moves, it has now entered a consolidation and buildup phase. Since the current price still has room for further upside before reaching the anticipated target level of 4750, if the market subsequently sees a pullback, it could still be a good opportunity for investors to consider adding positions on dips.
In addition, looking at developments in regional stock markets, the Korean index has recently been in a rebound and recovery rhythm. For future trading observations, it’s recommended that everyone closely monitor and pay attention to potential technical resistance levels around the 7020 area.
The CPI data to be released tonight has drawn significant attention, as it will directly serve as a key indicator for whether the September rate hike will be carried out. Broad expectations place the year-over-year CPI increase at 3.4%, and based on current market sentiment, the probability of implementing a rate hike in September is roughly 40%.
In the digital asset space, BTC and ETH are still maintaining a range-bound, choppy consolidation. The direction of any short-term breakout remains unclear. However, it’s worth noting that the recent performance of SOL/BTC appears particularly strong. This upward momentum is mainly driven by a steady stream of positive catalysts, including the Agave v4.2 network upgrade officially scheduled to be rolled out on August 17, as well as highly anticipated deflationary governance proposal(s) discussed in the market.
As for precious metals, after gold has carved out a stretch of consecutive rallying moves, it has now entered a consolidation and buildup phase. Since the current price still has room for further upside before reaching the anticipated target level of 4750, if the market subsequently sees a pullback, it could still be a good opportunity for investors to consider adding positions on dips.
In addition, looking at developments in regional stock markets, the Korean index has recently been in a rebound and recovery rhythm. For future trading observations, it’s recommended that everyone closely monitor and pay attention to potential technical resistance levels around the 7020 area.