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• The US CPI Preview – 13th July 2022

The US CPI Preview – 13th July 2022

The US CPI Preview – 13th July 2022

U.S. June consumer prices data due early on Wednesday has market participants’ undivided attention, standing as the last potentially market-moving catalyst before second-quarter earnings season hits full stride.

According to a poll by Bloomberg, inflation is expected to rise 8.8% year-on-year in June compared with 8.6% in May. If expectations meet reality, this would mark the fastest increase in consumer prices since the 8.9% figure back in December 1981.

Such a development will most likely reinforce market bets of more aggressive Fed rate hikes, ultimately injecting dollar bulls with fresh momentum.

High inflation numbers could lead to further interest rate hikes by the US Federal Reserve. Crypto experts believe that heightened inflation numbers may once again send the crypto markets into a tailspin due to Fed tightening fears. However, if the CPI numbers surprise everyone with indications of US economic cooling, crypto markets may witness an upward movement.

In anticipation of increased inflation numbers, crypto markets have already been correcting for the last few days. Top cryptocurrency Bitcoin’s price has plunged to $19,496 in the last 24 hours.

At the end of the week, there will also be a barrage of key releases ranging from the latest retail sales, industrial production, and consumer sentiment which will provide insight into the health of the US economy.

Have your trading charts ready for 15.30 GMT+3 for the CPI results!

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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