US CPI Data: The crypto prices reacted negatively to the higher than expected CPI data. The U.S. Bureau of Labor Statistics released the Consumer Price Index (CPI) data for the month of January. The data came amid widespread anticipation for significant reduction in inflation, in hopes of further loosening of monetary policy by the Fed in the months to come. The US inflation fell to 6.4%, higher than expectations of 6.2% rise year-over-year.
Also Read: Binance’s CZ Welcomes India’s Crypto Regulation Move With G20 Group
Higher Than Expected Inflation Data
The headline CPI for January came out at 6.4% against an expectation of 6.2%, while the core CPI stood at 5.6%, against an expectation of 5.5%. This led to a light rise in the U.S. Dollar Index (DXY), which is currently at 102.95.
The post Breaking: Crypto Prices Drop With Higher Than Expected US CPI Data appeared first on CoinGape.
- Mobile app
- Telegram Channel
- Telegram Group
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks