September CPI is due tonight
The Fed may still need to keep raising rates!
At 8:30 p.m. tonight, the U.S. will release its September CPI data.
The market currently expects September CPI to rise 3.6% year over year, up from 3.4% previously. Core CPI is expected to rise 2.5% year over year, also up from 2.4% previously.
Cleveland Fed President Hammack recently reiterated that the Fed still needs to raise rates further to bring inflation back to its 2% target.
Energy prices are the biggest concern right now. $CL Oil prices have remained high, which could cause headline inflation to accelerate again, while core inflation has not fully cooled either.
This CPI report is important for BTC, $XAUT gold, and U.S. stocks.
If the data comes in above expectations, the market may further increase its bets on a rate hike in December, putting more short-term pressure on risk assets.
But I don't plan to panic and short the market ahead of the data release. Rate-hike expectations have been repeatedly affecting the market lately. Tonight, besides watching the CPI reading itself, it's also important to see whether $BTC can hold the lows from the past few days.
The Fed may still need to keep raising rates!
At 8:30 p.m. tonight, the U.S. will release its September CPI data.
The market currently expects September CPI to rise 3.6% year over year, up from 3.4% previously. Core CPI is expected to rise 2.5% year over year, also up from 2.4% previously.
Cleveland Fed President Hammack recently reiterated that the Fed still needs to raise rates further to bring inflation back to its 2% target.
Energy prices are the biggest concern right now. $CL Oil prices have remained high, which could cause headline inflation to accelerate again, while core inflation has not fully cooled either.
This CPI report is important for BTC, $XAUT gold, and U.S. stocks.
If the data comes in above expectations, the market may further increase its bets on a rate hike in December, putting more short-term pressure on risk assets.
But I don't plan to panic and short the market ahead of the data release. Rate-hike expectations have been repeatedly affecting the market lately. Tonight, besides watching the CPI reading itself, it's also important to see whether $BTC can hold the lows from the past few days.