Bitcoin and altcoins have seen a rapid recovery in recent days. Today, however, the pace of this recovery has slowed, and near-term attention has shifted to key US data.
The first will be personal consumption expenditure (PCE) statistics released today, and the second will be the December Fed interest rate decision released next week. September PCE data, previously unavailable due to the October government shutdown, will be released today.
The market is pricing in a 25 basis point rate cut by 87.2% as the Fed prepares to announce its rate decision without providing key data.
Data on personal consumption expenditures (PCE), which the Federal Reserve monitors when determining interest rates and is considered a leading indicator of inflation, was released as global markets expressed a cautious outlook despite continued expectations for a rate cut in the United States.
As a result, personal consumption expenditure in September was as follows.
Core personal consumption expenditure price index (year) Announced 2.8% – Forecast 2.9% – Previous 2.9%
Core personal consumption expenditure price index (monthly) Announced 0.2% – Forecast 0.2% – Previous 0.2%
Personal consumption expenditure price index (annual rate) Announced 2.8% – Forecast 2.8% – Previous 2.7%
Personal consumption expenditure price index (monthly) Announced value 0.3% – Expected value 0.3% – Previous value 0.3%
What was Bitcoin (BTC’s first reaction?)
*This is not investment advice.
