The US Consumer and Price Index for May showed a slight movement for the inflation data, showing a minor decrease to 3.3% compared to April’s numbers of 3.4%.
These CPI figures might have a particular influence on the financial markets, as the US Federal Reserve is set to meet later today to determine its monetary policy and whether it will follow the ECB in reducing the interest rates.❖ U.S CPI ACTUAL: 3.3% VS 3.4% PREVIOUS; EST 3.4%Being lower than expected, the US CPI numbers resulted in immediate price volatility for bitcoin and the rest of the crypto market.
All eyes will now be on the US Federal Reserve later today. The US central bank will meet to determine whether it will keep the interest rates at current levels of 5.25% to 5.5% or it will mimic the ECB andWhat is Notcoin ? The Viral Token Coming to The Open NetworkSign-up FREE to receive our extended weekly market update and coin analysis report
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