According to the Bureau of Labor Statistics, the U.S. Producer Price Index (PPI) report is due to be released on Friday, November 13, at 8:30 a.m. Eastern Time. Economists expect overall producer prices to rise 0.4% month over month in October, down from 1.3% in September, while the core PPI (excluding food and energy) is expected to increase 0.3%, compared with 0.7% previously.
The report comes as markets put the probability of a quarter-point increase in the Federal Reserve’s policy rates in December at around 88%. Bitcoin has fallen below $70,000 amid tighter financial conditions, while gold recently slipped below $3,900 as rising Treasury yields increased the opportunity cost of holding non-yielding assets. Technology stocks are also under pressure, as higher inflation figures could strengthen expectations of higher interest rates.
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The report comes as markets put the probability of a quarter-point increase in the Federal Reserve’s policy rates in December at around 88%. Bitcoin has fallen below $70,000 amid tighter financial conditions, while gold recently slipped below $3,900 as rising Treasury yields increased the opportunity cost of holding non-yielding assets. Technology stocks are also under pressure, as higher inflation figures could strengthen expectations of higher interest rates.
$BTC
$XAU
$SOPH