Last minute! US PPI Data Announced! Here is the First Reaction of Bitcoin and Dollar!

US Producer Price Index data announced. According to this:

Producer Price Index (PPI) (MoM) (Jan) Expectation: 0.4% Described: 0.7%

Producer Price Index (PPI) (Annual) (Jan) Expectation: 5.4% Previous: 6.2% Described: 6%

Core Producer Price Index (PPI) (MoM) (Jan) Expectation: 0.3% Described: 0.5%

Core Producer Price Index (PPI) (YoY) (Jan) Expectation: 4.9% Previous 5.5% Described: 5.4%

Besides these data USA Applications for unemployment benefits were also announced. According to this Applications to Benefit from Unemployment Rights It was announced as 194 thousand. Expectation 200 got on.

Initial Reaction of Bitcoin and DXY

The first reaction of Bitcoin and Dollar after the incoming data is as follows:

Although the consumer inflation data announced on Tuesday came above the expectations, it was received positively by the markets as it was below the previous month.

In order for the increase in consumer prices to stop, the costs of the producers must not increase and therefore producer inflation must maintain its downward trend. Because producer inflation data is among the important data that the FED takes into account while shaping its monetary policy.