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BREAKING! US PPI Data Released! How Did Bitcoin (BTC) and the Dollar React?
The latest US PPI data has just been released.
Written by:
Elif Azra Güven
13.06.2024 – 12:32
Updated:
1 second ago
0
Bitcoin, the leading cryptocurrency, surged past $69,000 yesterday following positive CPI data from the USA. However, after the announcement of the FED interest rate decision in the evening and comments from FED Chairman Jerome Powell, it dropped back to $67,000.
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BTC showed significant volatility throughout the day, and today, data on the US Producer Price Index (PPI) was unveiled.
The details of the PPI data are as follows:
Core Producer Price Index (Monthly): Released 0.0% – Expected 0.3% – Previous 0.5%
Core Producer Price Index (Annual): Released 2.3% – Expected 2.4% – Previous 2.4%
Producer Price Index (Monthly): Released -0.2% – Expected 0.1% – Previous 0.5%
Producer Price Index (Annual): Released 2.2% – Expected 2.5% – Previous 2.2%
In addition to the PPI data, Unemployment Benefit Applications were also made public.
Unemployment Benefit Applications: Released 242k – Expected 225k – Previous 229k
Following the release of the PPI data, the initial reactions of Bitcoin (BTC) and the Dollar (DXY) were as follows:
*Please note that this is not investment advice.
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