Today is an important day for gold, dollar and Bitcoin (BTC) investors; because, at approximately 15.30, US April inflation figures will be announced. Experts expect US consumer inflation to be 8.1 percent. Here are the details…
Gold, important day for BTC investors: Data is released in the USA
Today, April consumer price index (CPI) data will be released in the USA and experts say that the figures are most likely geopolitical He thinks it will reflect the dimensions of the upheavals more than ever before. While the CPI in March was 8.5 percent, there are already voices coming from analytical circles that inflation may peak now or in the near future. US President Joe Biden made a speech on inflation yesterday.
Biden said that the fight against inflation is a priority and he understands the frustration of US citizens about high prices. Experts expect the CPI to be 8.1 percent. According to analysts, moderation in the rate of price inflation on an annual basis may alleviate fears about the FED’s hard money stance. As we reported on Kriptokoin.com, consumer prices increased by 8.5 percent on an annual basis in March, reaching the peak of 41 years.
How important is data?
Economist Hatice Kolçak, referring to the importance of this issue, states that the US inflation is very important and a decrease is expected since the rate hike has been taking place for two months. As it is known, the US Federal Reserve (FED) has been increasing the interest rate for two months. The most recent increase was 50 basis points. The economist expects the dollar to rise to 15.5; He also states that if inflation comes as expected, gold can recover. He thinks that the front of gram gold will be opened with the rise in ounce gold.
If the US inflation comes above market expectations in general, it is thought that the FED may increase the weight in the tightening policy. The reaction in the markets is the continuation of the rise in US bond yields and the continuation of the strengthening in the dollar index. On the other hand, the possibility of continuing the decline in gold, which is inversely correlated with the dollar, is discussed. However, according to many experts, if the US data comes in at or below market expectations, this will strengthen gold prices. In BTC, which has recently provided a high correlation with the stocks, it is thought that if there is an increase in the stocks, there may be an increase in momentum.
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