Producer inflation data will determine the market movement
Also today we expect new inflation data from the US, the publication of PPI (Producer Price Index).
The event is equal in importance to yesterday's CPI (Costumer Price Index), no doubt it can have a serious impact on the market.
The expected figure is -0.1%, a value higher than expectation will negatively affect the crypto market, a lower value will be positive for the market.
Important fact:
Deflation in the pipeline, heading for the PPI, CPI, PCE Deflator: from post-COVID price peaks, lumber -60%, copper -35%, oil -35%, iron ore -60%, DRAM -46%, corn -17%, Baltic freight rates -79%, gold -17%, and silver -39%.
This means that there are high chances to see another indicator which will confirm deflation in the manufacturing sector.
What does it mean?
This means that despite the rise in prices, production becomes cheaper. And if production becomes cheaper, then revenue grow, and if revenue grow, then the price of risky assets goes up.
There's a good chance that we'll see a green day today, but let's wait for the data. It will be published today at 12:30GMT.
The event is equal in importance to yesterday's CPI (Costumer Price Index), no doubt it can have a serious impact on the market.
The expected figure is -0.1%, a value higher than expectation will negatively affect the crypto market, a lower value will be positive for the market.
Important fact:
Deflation in the pipeline, heading for the PPI, CPI, PCE Deflator: from post-COVID price peaks, lumber -60%, copper -35%, oil -35%, iron ore -60%, DRAM -46%, corn -17%, Baltic freight rates -79%, gold -17%, and silver -39%.
This means that there are high chances to see another indicator which will confirm deflation in the manufacturing sector.
What does it mean?
This means that despite the rise in prices, production becomes cheaper. And if production becomes cheaper, then revenue grow, and if revenue grow, then the price of risky assets goes up.
There's a good chance that we'll see a green day today, but let's wait for the data. It will be published today at 12:30GMT.
Subscribe to my telegram channel to receive up-to-date information. t.me/thewolfoffewstreets
Visit website thewolfoffewstreets.com and subscribe on my social accounts for more information and thoughts about markets.
Visit website thewolfoffewstreets.com and subscribe on my social accounts for more information and thoughts about markets.