The critical inflation data that investors have been eagerly awaiting in the US has been announced; How did Bitcoin, the Dollar, and Gold react to the data?
Critical Inflation Data Announced in the US
According to the US Bureau of Labor Statistics (BLS), the US inflation rate measured by the Consumer Price Index (CPI) fell from 4.0% in May to 3.0% in June on an annual basis, below expectations. On a monthly basis, CPI increased by 0.2% in June compared to 0.1% in May, and expectations were 0.3%.
US – annual #InflatIon rate announced as 3%.
Expectation 3.1% / Previous 4.0%
— CO NEWS (@coinotag) July 12, 2023
The Core CPI, which excludes food and energy costs, decreased from 5.3% to 4.8% and expectations were 5.0%; on a monthly basis, Core CPI increased by 0.2% in June compared to 0.4% in May, and expectations were 0.3%.
How Did Bitcoin, the Dollar, and Gold React?
The price of Bitcoin, which was moving around $30,750 before the data was announced, started to rise with the announcement of the data and reached $30,983 with a 0.60% jump. The current price of Bitcoin is $30,769.
The Dollar Index (DXY) decreased by 0.4% with the announcement of the data, showing a decline to 101.049 level, and currently, DXY is at 101.155 level.
The price of Gold increased by 0.75% with the announcement of inflation in the US and showed an upward movement from $1935 levels to $1950 levels. Currently, Gold is trading at $1945 level.
