Author: Elena R Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
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Jun 13, 2024 19:16
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
The latest US PPI data revealed significant inflation cooling in May, marking its largest decline since October 2023. Inflation decreased to -0.2% in May, against market expectations of a 0.1% increase. The data has fueled optimism in the market amidst a dovish stance by the Federal Reserve. The Fed Chair’s latest remarks signaled only one rate cut this year. The Core PPI, excluding food, energy, and trade services, remained unchanged from the previous month. Annual PPI inflation cooled to 2.2%, against expectations of 2.5%. While BTC retreated 2.53%, market experts anticipate a potential Bitcoin rally ahead.
Source: https://coinpedia.org/crypto-live-news/us-ppi-inflation-drops-sparks-optimism-amid-feds-dovish-stance/