- The market expects the Consumer Price Index to stay at 0.3%, unchanged from last month.
- This coming Tuesday, January 14, we will get the Producer Price Index (PPI) numbers.
As a result of rising macroeconomic concerns, investor sentiment has been all over the place recently, sending the financial market into a tailspin. Recent economic indications, such as US job figures and hawkish words by Fed members, have heightened fears among investors.
That being said, later this week, investors will be keenly awaiting the publication of the US CPI inflation and PPI figures. In addition, it stoked conjecture over the potential future effects of these indicators on the performance of cryptocurrencies.
All Eyes on Key Data
Even outside of the cryptocurrency industry, the US consumer price index (CPI) is a major focal point of the financial markets this week. The market expects the Consumer Price Index to stay at 0.3%, unchanged from last month, and the year-over-year CPI to come in at 2.9%, up from 2.7%.
However, compared to last month’s 0.3% reading, the Core CPI—which does not include food and energy prices—is anticipated to cool at 0.2%. At the same time, analysts predict that the Core CPI will stay at 3.3% year-over-year.
The market is getting ready for this week’s high inflation report. But if the numbers are much worse than expected, it may put even more pressure on investors and affect the value of Bitcoin and other cryptocurrencies. Put another way, investors may have greater leeway to act on their aggressive intentions going forward if the statistics are hotter than expected.
Investors are waiting with bated breath for both the US CPI inflation data and the forthcoming US PPI report. This coming Tuesday, January 14, we will get the Producer Price Index (PPI) numbers. It is another important indicator that the Fed uses to measure market inflationary pressure.
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