This CPI report was worse than expected
Inflation was expected to come in below forecasts, but September CPI rose 3.7% year over year, while core CPI also rebounded to 2.6%—both above market expectations.
More concerningly, aside from rising energy prices, core inflation showed no clear signs of cooling either.
After the data was released, $BTC and gold both fell, while the dollar and U.S. Treasury yields strengthened.
In the short term, I’m no longer in a hurry to call a market rebound, but I don’t plan to chase shorts either.
For $BTC , the first level to watch is whether it can hold $82,000. For gold, it’s around $4,100. If neither level holds, the pullback may continue.
Inflation was expected to come in below forecasts, but September CPI rose 3.7% year over year, while core CPI also rebounded to 2.6%—both above market expectations.
More concerningly, aside from rising energy prices, core inflation showed no clear signs of cooling either.
After the data was released, $BTC and gold both fell, while the dollar and U.S. Treasury yields strengthened.
In the short term, I’m no longer in a hurry to call a market rebound, but I don’t plan to chase shorts either.
For $BTC , the first level to watch is whether it can hold $82,000. For gold, it’s around $4,100. If neither level holds, the pullback may continue.