The crypto market awaits the publication of the US PCE inflation data, the predictable price index by the Federal Reserve.
He Bitcoin records 2.6% falls this Friday that make Its price ranges at US $110,000 In this Friday’s session, according to Binance. Meanwhile, Ethereum yields 5.3% au $ S4.342 while the rest of the cryptocurrencies accompany that decline, with falls of up to 5% in the case of Cardano.
Within this framework, investors expect the publication of the US PCE inflation data, the predilect price index for the Federal Reserve (Fed)while persisting concerns about the independence of the North American Central Bank persist.
The crypto market closely follows Fed’s movements
This morning the US PCE inflation will be known. In addition to providing a new measure on the evolution of prices in the United States, you can finish profile the FED roadmap, which just a week earlier, in the Jackson Hole symposium, opened the door to a cut in interest rates at the September meeting.
In this sense, uNa softer reading could reinforce the argument in favor of monetary flexibilitywhile a stronger fact can moderate bets on the cut of interest rates.
In addition, the governor of the Fed Lisa Cook filed a lawsuit against the US president, Donald Trump, for her dismissal from the Central Bank, and now hopes that the country’s justice decides whether or not to block the president’s decision.
Source: Ambito
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