Last Minute: US Inflation Data Announced, Bitcoin Passed $28,000!

Expected critical inflation data in the USA were announced. Here is the data disclosed:

• Consumer price index Monthly – Announced: 0.4% – expected 0.4%
• Consumer price index Annual – Announced: 4.9% – expected: 5%
• Core consumer price index Monthly – Announced: 0.4% – expected: 0.4%
• Core consumer price index Annual – Announced: 5.5% – expected: 5.5%

Bitcoin and Dollar’s Initial Reaction

After the announced data bitcoin and the initial reaction of the dollar was as follows.

The fact that the inflation data, which is one of the main data to be taken as the basis for the FED’s interest rate decision in June, came below the expectations, strengthened the expectations that the interest rate hikes will come to an end and that the interest rate will be kept constant as of June.

In its interest rate decision in May, the FED removed the statement regarding the continuation of the increases from the text and gave a pause signal. Powell stated in his statements that they would stick to the data. Will there be a pause in June after the lower than expected inflation data? The question will be on the agenda of the coming days.