Core

Gold

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<ul> 
 <li>The US inflation data for October performed above expectations. The Headline Consumer Price Index (CPI) remained unchanged despite an expected 0.1% increase on a monthly basis.</li> 
 <li>The year-on-year Core CPI, however, fell slightly below expectations with a 4.0% increase, compared to the anticipated figure of 4.1% in September.</li> 
 <li>With the release of the data, the price of Bitcoin rose by 0.70% to reach $36,670. Currently, BTC is trading at $36,550.</li> 
</ul> 
<p><strong>Critical inflation reports in the US have been released: All the details, expectations, and market impacts are covered on COINOTAG!</strong></p> 
<h2 id="strong-us-inflation-data-released-strong"><strong>US Inflation Data Released</strong></h2> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126552" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>The US inflation data for October performed above expectations. The Headline Consumer Price Index (CPI) remained unchanged despite an expected 0.1% increase on a monthly basis. The Core rate, on the other hand, increased by 0.2%, surpassing the expected 0.3%.</p> 
<p>Analyzing all the data, the October CPI remained unchanged on a monthly basis, defying the expected 0.1% increase and matching the 0.4% increase in September. The year-on-year CPI, with a 3.2% increase, aligned with expectations, showing a decline from September’s 3.7%.</p> 
<p>The Core CPI, which excludes food and energy costs, increased by 0.2%, falling slightly below the expected 0.3% in October. The year-on-year Core CPI showed a 4.0% increase, slightly below expectations and a decrease from September’s 4.1%.</p> 
<p>While the Headline CPI inflation has been declining for months, it continues to remain above the Federal Reserve’s 2% target. Moreover, the Core rate has remained above 4% for an extended period. Fed members have hinted that they might make another interest rate hike before finally ending the approximately 20-month-long tightening cycle.</p> 
<p>Before this report, traders were pricing in an approximately 86% likelihood of the Fed keeping interest rates steady at the mid-December meeting, and according to CME FedWatch, the likelihood of continued pause at the January meeting was around 75%.</p> 
<h2 id="strong-how-does-it-affect-bitcoin-dollar-and-gold-strong"><strong>How Does It Affect Bitcoin, Dollar, and Gold?</strong></h2> 
<p>Before the inflation reports were announced, the Bitcoin price was trading at $36,406. With the release of the data, the Bitcoin price increased by 0.70% to reach $36,670. Currently, BTC is trading at $36,550.</p> 
<p>In contrast, the Dollar Index experienced a sharp decline, dropping by 0.70% to reach 104.784 levels. Currently, DXY is at 104.906 levels. Gold per ounce saw a 0.68% increase, reaching $1,959. Currently, Gold is trading at $1,954.</p> 
<p>The post <a rel="nofollow" href="https://en.coinotag.com/us-inflation-data-released-how-did-inflation-affect-bitcoin-gold-and-the-dollar/">US Inflation Data Released: How Did Inflation Affect Bitcoin, Gold, and the Dollar?</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p> 
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US Inflation Data Released: How Did Inflation Affect Bitcoin, Gold, and the Dollar?

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