Bitcoin and gold drop after core CPI beats forecasts
Bitcoin and gold fell after August core CPI rose 0.3% MoM, above the 0.2% forecast, raising Fed uncertainty.
Bitcoin and gold fell after August core CPI rose 0.3% MoM, above the 0.2% forecast, raising Fed uncertainty.
August US CPI annual rate matched forecasts at 3.4%. Core CPI eased to 2.4%.
The US dollar traded mixed ahead of the August CPI report. Treasury yields held high while stock futures rebounded, and oil fell on diplomatic hopes.
Markets were quiet ahead of US CPI data. UK GDP beat expectations. Oil fell 3% despite geopolitical tensions.
Ethereum fell 0.7% as annual US producer inflation hit 5.4%, raising Fed rate hike expectations.
Gold trades near $4,300 support as oil surge fuels rate hike bets ahead of US CPI data.
Bitcoin dips to key $76,000 support as oil surge and NFP data boost rate hike bets; all eyes are on the upcoming US CPI report.
US CPI forecast distribution shows consensus at 3.4% Y/Y and 0.2% core M/M. Only a soft core CPI may offer short-term relief.
UK GDP rose 0.4% in July from June, beating forecasts for no change, as services led gains and annual growth reached 1.6%.
Jim Cramer says the 30-year Treasury yield near 5.3% now drives stocks, overriding fundamentals.
Jeremy Siegel says the Fed must raise rates next week to maintain credibility, despite risk of a selloff.
Oil prices stayed near recent highs as unverified pipeline fire reports emerged, while Asia-Pacific stocks fell on geopolitical and rate worries.
The BOJ is set to raise rates by 25bp next week, but the central bank gives no clear signal on further hikes, leaving markets focused on pace and terminal rate.
Rising 10-year Treasury yields near 4.85% pressure GOP midterm strategy as Trump pledges $5,000 payments amid debt concerns.
ANZ expects ECB to hike again in December to 2.75% deposit rate; ING calls it an insurance move.