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Kinesis Gold

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April

<ul>
 <li>According to the US Consumer Price Index data for May, inflation only increased by 0.1% compared to a 0.4% increase in April, lower than expected.</li>
 <li>Annual inflation slowed to 4.0% in May from April, with expectations at 4.1%.</li>
 <li>Before the data was released, Bitcoin, which was trading at $26,240, showed a 0.70% increase to $26,433.</li>
</ul>
The eagerly awaited inflation data for the US has been released, causing market turmoil and changing expectations for the Fed’s interest rate meeting.
<h2 id="strong-inflation-data-released-in-the-us-strong">Inflation Data Released in the US</h2>
<img loading="lazy" src="https://en.coinotag.com/wp-content/uploads/2023/04/US-approves-raising-debt-limit-to-15-trillion-What-does.jpg" alt="abd-ekonomi" width="1280" height="720">
According to the US Consumer Price Index data for May, inflation only increased by 0.1% compared to a 0.4% increase in April, lower than the expected 0.2% increase. Annual inflation slowed to 4.0% in May from April, with expectations at 4.1%.
<blockquote class="twitter-tweet">
 U.S. CPI: +4% YEAR-OVER-YEAR (EST. +4.1%) U.S. CORE CPI: +5.3% YEAR-OVER-YEAR (EST. +5.3%)
 — CoinOtag EN (@coinotagen) <a href="https://twitter.com/coinotagen/status/1668596873483911171?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 13, 2023</a>
</blockquote>
 The core CPI, which excludes volatile food and energy costs, increased by 0.4% in April and May, in line with expectations. Core CPI fell to 5.3% in May from April, with expectations at 5.3%.
This latest news on inflation comes a day before the results of the US Federal Reserve’s monetary policy meeting. Prior to this morning’s data, market participants had priced in a 76% chance of the Fed’s pause in a historic series of rate hikes since March 2022. After the announcement, the probability of a pause rose to 94.2%.
<h2 id="strong-bitcoin-dollar-and-gold-s-reaction-strong">Bitcoin, Dollar, and Gold’s Reaction</h2>
Before the data was released, Bitcoin, which was trading at $26,240, showed a 0.70% increase to $26,433, but then fell sharply to $25,891. BTC is currently trading at around $26,060.
The dollar index was at 103.303 before the data was released. With the release of the data, the DXY fell 0.25% to 103.047. The DXY is currently at a slight recovery of 103.212.
The situation with gold is not much different from Bitcoin. Gold, which was trading at $1,960 before the data was released, saw a rapid increase to over $1,971 with a 0.50% increase, but was unable to sustain its rise and fell to $1,958. The current price of gold is $1,961.
The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/inflation-data-released-in-the-us-how-did-bitcoin-dollar-and-gold-react/">Inflation Data Released in the US: How Did Bitcoin, Dollar, and Gold React?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG</a>.

Inflation Data Released in the US: How Did Bitcoin, Dollar, and Gold React?

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