US CPI Meets Estimates, Locks In 25Bps Cut As BTC Edges Lower

US CPI Meets Estimates, Locks In 25Bps Cut As BTC Edges Lower

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CPI inflation data in the United States fell directly on the target on Thursday, which enhances the expectations of reducing the federal reserve next week and causing a modest decrease in encryption prices.

The Consumer Prices Index (CPI) increased by 2.9 % year on an annual basis in August, in line with predictions, while consumer prices (except for food and flying energy prices) offered by 0.4 % than July, slightly higher than estimates.Data from the work statistics office showed.

Polymarkket is rapidly reducing the September rate, with the chances of reducing a basis point 25 in 79 % before data to 91 %, before returning to approximately 84 %.

Polymarket September Cump September Contract (Source: Polymarket))

On the contrary, the chances of reducing the average of 50 basis points from 18.9 % to 9.1 % before the rise to 14 %. On Friday and Wednesday, the Soft Jobs report strengthened the price index price index, the bets, to reduce the abundance rate this month.

the CME Fedwatch tool It also reflects semi -logical expectations, as analysts assigned a 90.8 % opportunity in Federal Reserve Prunies by 25 basis points at its meeting on September 17.

“The essence was as expected, but CPI overcame the address number, and we believe that it maintains a reduction of 25 points next week and does not prevent further cuts in October and December,” said Era Jersey, the chief researcher at Bloomberg.

“The price cuts have been confirmed!” Said Bitcoin investor, known to Ark Davis.

Reducing the interest rate will reduce borrowing costs and enhance liquidity, and usually encourages more bets on the most dangerous asset categories such as cryptocurrencies.

Bitcoin slides after CPI

Nevertheless, the encryption market decreased per hour after the data, with Bitcoin (BTC) slide 0.6 %, from 114,300 dollars to $ 113,516. Many of the 10 best encryptions withdrew up to 1 % as well.

Top Twn CryptosTop Twn Cryptos

Performing prices for the top ten (Source: Coinmarketcap))

Data from Coinmarketcap shows that Altcoin ETHEREUM (ETHEREUM) leader, Ripple’s XRP, Meme Coin Dogecoin (Doge), and Cardano from Charles Hoskinson (ADA) took the largest number of menu in the top ten list after issuing consumer price indicator data.

ETH corrected 1.13 % for trading at 4,395.26 dollars, while XRP, DOGE and ADA, 1.13 %, 1.83 % and 1.67 %, respectively.

The dollar index decreases with weakening confidence in the dollar

The US dollar index (DXY) fell more than 0.3 % in the same period. The indicator is a measure of the US dollar for foreign currency basket.

Tradingview data shows that the index has been in a fixed fixed direction over the past 24 hours. During this period, it rose from 97.627 to a height of 98.036. However, the latest version of inflation eradicates the gains 24 hours.

TVC: DXY Chart Image by StevenwalgenbachTVC: DXY Chart Image by StevenwalgenbachDXY clock chart (Source: Tradingvief))

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