Inflation News: Key Events Affecting the Cryptocurrency Market
Key Economic Indicators This Week
This week carries vital inflation news that could shake up the cryptocurrency market. The US will release important economic data that traders should analyze carefully.
Consumer Price Index (CPI)
The highlight will be the CPI report from the US Bureau of Labor Statistics (BLS) on Thursday, October 10. Economists are predicting a 0.1% increase in headline inflation for September. Meanwhile, the core CPI figures, excluding food and energy, are expected to rise by 0.2%.
- The year-on-year (YoY) headline CPI is anticipated to drop to 2.3% from 2.5%.
- The core CPI is forecasted to remain steady at 3.2% YoY.
Impact on Cryptocurrency
If inflation data comes in higher than expected, it may signal a resurgence in inflation, limiting the Federal Reserve's ability to reduce interest rates further. This could hinder Bitcoin's upward momentum.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.