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Tuesday, February 27, 2024

June CPI, PPI readings spotlight for BTC investors



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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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