In a recent development, the US PPI data has been released, sparking reactions from both Bitcoin (BTC) and the Dollar.
Bitcoin experienced a surge, surpassing $69,000 in value after positive CPI data from the USA. However, following the announcement of the FED interest rate decision and statements from FED Chairman Jerome Powell, it retreated to $67,000.
Amidst Bitcoin’s volatile movements, the US Producer Price Index (PPI) data was also disclosed. The figures revealed are as follows:
– Core Producer Price Index (Monthly): 0.0% (Announced) – 0.3% (Expected) – 0.5% (Previous)
– Core Producer Price Index (Annual): 2.3% (Announced) – 2.4% (Expected) – 2.4% (Previous)
– Producer Price Index (Monthly): -0.2% (Announced) – 0.1% (Expected) – 0.5% (Previous)
– Producer Price Index (Annual): 2.2% (Announced) – 2.5% (Expected) – 2.2% (Previous)
Additionally, Unemployment Benefit Applications were also announced:
– Applications for Unemployment Rights: 242k (Announced) – 225k (Expected) – 229k (Previous)
Following the release of the PPI data, Bitcoin (BTC) and the Dollar (DXY) both reacted as follows:
*Please note that this is not investment advice.
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