Inflation growth in the US in annual terms in April slowed down from 5% to 4.9%, which was below the forecast of 5%. Bitcoin has consolidated above $28,000, having added 2.1% per day.
On a monthly basis, consumer price growth accelerated from 0.1% to 0.4%, in line with market expectations.
The dynamics of the base indicator, which does not take into account food and energy prices, also coincided with analysts’ forecasts, amounting to 5.5% and 0.4%. The previous figure is 5.6% and 0.4%, respectively.
The data published by the US Federal Bureau of Labor Statistics (BLS) was generally in line with analysts’ expectations and did not fundamentally change the market’s view of the completion Fed cycle of monetary tightening.
According to calculations Bloomberginflation in the service sector, which for the Fed has recently been a key indicator for assessing further actions, on an annualized basis has slowed to the lowest levels since July 2022 of 0.1% and 5.1%.
Investors have become even more convinced that the key rate increase in May will most likely be the last one.
The futures market reduced the chances of further tightening in June from 21.2% to 14.2% and upped them against a 25 bp decline. in July – from 29.3% to 35.7%.
The cryptocurrency market reacted moderately positively to the data published by BLS. Bitcoin quotes overcame resistance at $28,000. Digital gold added more than 2% in price.
The price of Ethereum pulled up to $1890, showing an increase of 1.8%.
According to CoinGecko, all digital assets from the top 10 by capitalization have been in the green zone in the last hour. Growth rates ranged from 1.2% (BNB) to 3% (Cardano).
The stock market reacted positively to the data on the labor market. At the time of writing, Nasdaq 100 futures are up 0.9% and S&P 500 futures are up 0.75%.
Recall that on May 3, the Fed raised the key rate range to 5-5.25% per annum.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Inflation growth in the US in annual terms in April slowed down from 5% to 4.9%, which was below the forecast of 5%. Bitcoin has consolidated above $28,000, having added 2.1% per day.
On a monthly basis, consumer price growth accelerated from 0.1% to 0.4%, in line with market expectations.
The dynamics of the base indicator, which does not take into account food and energy prices, also coincided with analysts’ forecasts, amounting to 5.5% and 0.4%. The previous figure is 5.6% and 0.4%, respectively.
The data published by the US Federal Bureau of Labor Statistics (BLS) was generally in line with analysts’ expectations and did not fundamentally change the market’s view of the completion Fed cycle of monetary tightening.
According to calculations Bloomberginflation in the service sector, which for the Fed has recently been a key indicator for assessing further actions, on an annualized basis has slowed to the lowest levels since July 2022 of 0.1% and 5.1%.
Investors have become even more convinced that the key rate increase in May will most likely be the last one.
The futures market reduced the chances of further tightening in June from 21.2% to 14.2% and upped them against a 25 bp decline. in July – from 29.3% to 35.7%.
The cryptocurrency market reacted moderately positively to the data published by BLS. Bitcoin quotes overcame resistance at $28,000. Digital gold added more than 2% in price.
The price of Ethereum pulled up to $1890, showing an increase of 1.8%.
According to CoinGecko, all digital assets from the top 10 by capitalization have been in the green zone in the last hour. Growth rates ranged from 1.2% (BNB) to 3% (Cardano).
The stock market reacted positively to the data on the labor market. At the time of writing, Nasdaq 100 futures are up 0.9% and S&P 500 futures are up 0.75%.
Recall that on May 3, the Fed raised the key rate range to 5-5.25% per annum.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
