Bitcoin Awaits Inflation Data! What Time Will It Be Announced? What are the Expectations?

The most important day of the week has arrived. bitcoin and the consumer inflation data, which the markets are eagerly awaiting, are a short time away.

Today, at 15.30 Turkish time, the US September consumer price index and core consumer price index will be announced.

Looking at the expectations CPI in the USAIt is expected to be announced as 8.1% annually and 0.2% monthly.

Core CPIThe expectation is that it will be announced as 6.5% annually.

Inflation data to be announced today will serve as a guide for the next Fed rate decision, so all markets focused on this data.

Before the critical inflation data, we see that the rate hike expectation at the FED meeting in November was 71% at a rate of 75%.

A higher-than-expected inflation data may increase the tension in the markets and thus the sales. For this reason, it is of great importance for short-term movements whether the data to be announced is above or below the expectations.

Core Inflation Matters

Investors should follow core inflation as well as headline inflation when following the data. Because, as we mentioned before, core inflation can give more successful results in terms of the direction of inflation.

When we look at the inflation data of the last three months in the USA, we see that annual inflation was announced as 9.1%, 8.5% and 8.3%. While this headline showed a decline in inflation, core inflation increased in the last three months: 5.9%, 5.9% and 6.3%.

As you can see, although there is a recession signal in headline inflation, we see that the same signal is not in core inflation, and the increase in core inflation continues.

For this reason, it may be misleading to act only according to the headline inflation, because the FED takes into account the change in core inflation while shaping its monetary policy.

Bitcoin is trading at $19,000 before critical inflation data.