cryptocurrency investors, BitcoinWhile we are waiting for ATH to refresh again by overcoming the resistances it encounters on its new ATH path, US Consumer Price Index (CPI) waiting for clues from the data.
The USA will publish CPI inflation data for May before the June interest rate decision that the FED will announce this evening.
The data is critical after last week’s higher-than-expected US employment data dampened expectations for the FED to cut interest rates.
at this point Wall Street giants He shared his expectations regarding US inflation data.
According to the Wall Street Journal JPMorgan, Bank of America, Goldman Sachs, Morgan Stanley, Citigroup, UBS, Nomura, RBC and Barclays Wall Street giants such as predict CPI to be at 3.4%.
Against this BNP Paribas, TD Bank and Wells Fargo It predicts that the CPI will fall to 3.3%.
According to market economists, annual CPI will be at 3.4%, similar to last month.
The monthly rate is expected to slow to 0.1% from 0.3% last month, while the annual Core CPI is expected to fall from 3.6% to 3.5%.
CPI forecasts of both Wall Street giants and economists generally point to positive figures and bullish sentiment in the market.
While Wall Street giants also predict that the FED will cut interest rates as of September, it is thought that this FED decision will be decisive in terms of whether the interest rate cuts will start or be postponed.
At this point, economists say that if the CPI comes in line with market forecasts, expectations for an interest rate cut in September may increase, which could potentially Bitcoin He predicts that he may raise the price.
Economists recently stated that Bitcoin, which fell before the CPI and FED decision, created an opportunity for investors to buy from the bottom, and that BTC would rise in the short term. BTC He said that as it rises, it could also bring a recovery for the broader crypto market.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!