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Tuesday, February 27, 2024

June CPI, PPI readings spotlight for BTC investors


On Wednesday, watchers of US monetary policy will be eyeing the release of June CPI from the Labor Department. The CPI has been on a steady downward trend from last year’s highs. Economists’ consensus is that the June index could fall in the mid-3% range, though Edward Moya, senior market analyst at forex market maker OANDA, wrote in a Monday note that it could fall as low as 2.8%. Yet Moya also said that core inflation, which excludes more volatile food and energy costs, could remain warm, a result of the expensive housing market. “Prices pressures are likely to persist throughout the summer,” Moya wrote.

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