Key Highlights: U.S. monthly producer prices saw their steepest increase since March 2022, compounding pressure alongside hot consumer inflation data. Bitcoin briefly dropped below $80,000 in response to the economic reports before recovering back toward $82,000. Technical indicators point to potential retest zones near $78,000, with key exponential moving averages sitting around $76,144 and $78,459. ...
Key Highlights Bitcoin and XRP experienced extended sell-offs on Thursday following the release of hotter-than-anticipated U.S. Producer Price Index (PPI) data. The wholesale inflation figures arrived immediately after an unexpectedly hot Consumer Price Index (CPI) print, heightening fears of sustained Federal Reserve interest rate hikes. Market participants across both equities and digital assets are bracing ...
Wholesale Inflation Rises as Expected in August, Producer Prices Climb 0.4% U.S. wholesale inflation advanced largely in line with forecasts in August, according to data released Wednesday by the Bureau of Labor Statistics. The report arrives days before the closely watched Consumer Price Index release and as traders weigh the likelihood of another Federal Reserve ...
Treasury Yields Surge to Multiyear Highs as Oil Tops $100 U.S. Treasury yields climbed to multiyear highs on Thursday, driven by a spike in oil prices that overshadowed a relatively benign wholesale inflation report. The benchmark 10-year Treasury note yield rose more than 6 basis points to 4.908%, marking its highest level since November 2023. ...