US CPI Inflation Comes In At 3.2%, Bitcoin And Ethereum Price To Rally
The annual inflation data coming in hotter than last month’s 3% gives room for the US Federal Reserve to remain hawkish. The stock and crypto markets will have to wait a few more months for a pivot. advertisement JP Morgan predicted a CPI inflation of 3.4%. Whereas, other Wall Street giants such as Goldman Sachs, Barclays, HSBC, and UBS estimated 3.2%. BMO, Bloomberg, Citigroup, Credit Suisse, Morgan Stanley, and Visa forecasted inflation to come in line at 3.3%. The headline inflation falling below 3% could have brought further upside move in the stocks and crypto markets. In fact, the CME FedWatchTool now shows an 86.5% probability of the Fed keeping the Federal target rate steady at the upcoming Federal Open Market Committee (FOMC) meeting in September 2023. The US Dollar Index (DXY) fell 0.63% to 101.78 and expect to continue falling. Read More: Bitcoin Price Prediction – A Risky Run-Up To Key US CPI Data? Recommended Articles ...