US wholesale inflation just hit its highest annual rate since 2022. 🔥
Producer prices rose 0.3% in October, a touch under the 0.4% forecast. But the yearly rate climbed to 6.5%, the biggest since November 2022.
It's the last major inflation print before the Fed meets Dec 8-9, and markets still fully price at least a 25bp hike.
$BTC popped to ~$69.8K right after the 20:30 ICT release, then faded to $68,853 by 22:19 ICT (-3.8% 24h on Binance).
Wall Street at 22:19 ICT: $SPY $748.96 (-1.1%), $QQQ $674.55 (-2.0%).
"Less hot than feared" still isn't cool. Is a December hike already priced into crypto, or is there more pain ahead?
Producer prices rose 0.3% in October, a touch under the 0.4% forecast. But the yearly rate climbed to 6.5%, the biggest since November 2022.
It's the last major inflation print before the Fed meets Dec 8-9, and markets still fully price at least a 25bp hike.
$BTC popped to ~$69.8K right after the 20:30 ICT release, then faded to $68,853 by 22:19 ICT (-3.8% 24h on Binance).
Wall Street at 22:19 ICT: $SPY $748.96 (-1.1%), $QQQ $674.55 (-2.0%).
"Less hot than feared" still isn't cool. Is a December hike already priced into crypto, or is there more pain ahead?
