Crypto Market Awaits US CPI Next Week, Here’s What to Expect
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–> Ad –> –> –> Ad –> Home / Crypto News / Crypto Market Awaits US CPI Next Week, Here’s What to Expect Crypto Market Awaits US CPI Next Week, Here’s What to Expect 1 hrs ago By Rupam Roy –> Rupam Roy
Expertise : Crypto, Blockchain, Web3, Artificial Intelligence (AI), Global News, Stock Market Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience. Read full bio –> Copied! –> Claim Card –> Why Trust CoinGape CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information. –> Claim Your Free Card –> Sponsored This page may contain affiliate links. If you sign up through these links, we may earn a commission at no additional cost to you. This does not influence our editorial reviews or rankings. Win Upto $770. AD › Get up to $1190 Reward . AD › –> Highlights
The crypto market is once again gearing up to enter a crucial week, with a flurry of macroeconomic developments in focus. For context, the US CPI and PPI inflation data are scheduled for next week, which would provide insights into the potential next move of the US Federal Reserve.
However, the market is anticipating the US Fed to keep interest rates unchanged at its October meeting. Despite that, the latest US FOMC minutes showed that the central bank officials might consider another rate hike this year, which has fueled discussions among market participants.
Next week would be crucial for the broader financial sector, let alone the crypto market. The US CPI and PPI inflation data, which the US Fed often considers to gauge inflationary pressures, are scheduled to be released next week.
The US CPI, scheduled for Wednesday, October 14, is expected to come in at 0.6% on a monthly basis for September, as compared to 0.4% in the prior month. On a year-over-year (YoY) basis, the inflation data is expected to come in at 3.7%, up from 3.4% in the prior month’s reading.
The Core CPI, which excludes food and energy prices, is expected to come in at 0.2% on a monthly basis and 2.5% on a YoY basis. The Core CPI readings for August were recorded at 0.3% and 2.4%, respectively.
In addition, the crypto market would also keep close track of the US PPI inflation data, scheduled for Thursday, October 15. The US PPI is expected to come in at 0.6% on a month-over-month (MoM) basis, as compared to 0.4% recorded in August.
Both the US CPI and PPI data would be closely tracked by the crypto market participants, as it would set the stage for the Fed’s potential next move with its policy rate plans. If the inflationary readings come in hotter-than-expected, it could dampen market sentiment.
For context, a hotter reading would provide more space for the US Fed to consider another rate hike by 2026 end. Already, at the last US FOMC minutes, the Fed officials have signaled that they might raise the interest rate by another 25 bps by year-end, which has weighed on sentiment.
The crypto market often faces higher volatility in times of higher policy rates. However, according to the CME FedWatch Tool, the odds of a potential Fed rate hike in October are now only at 17.7%.
Despite that, crypto market investors should exercise due diligence amid the already topsy-turvy scenario in the market. Besides, the upcoming US CPI and PPI data might also trigger volatile trading in the digital assets space as well as in the broader financial markets.
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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