As the Federal Open Market Committee (FOMC) prepared to announce new Consumer Price Index (CPI) statistics, there was a great deal of apprehension. The impact of these data on the NASDAQ, the dollar, international stocks, and the cryptocurrency market are all hotly anticipated and intriguing.
The outcome of the data will carve out a pattern that the stock and cryptocurrency markets will react to and use to create a new market position, experts have predicted.
The CPI is measured with change in the price of goods and services purchased by consumers. And derived via Various commodities and services are sampled for average price, and the results are compared to the results of the preceding sampling.
Analysis
Previous statistic of the Monthly CPI released by the Federal Reserve (FED) on 12th April, 2023 was 0.1%, while the forecast for the next one is 0.4%.
It the actual data is Greater “Actual” than “Forecast” is advantageous for the currency.
Previous statistic of the Yearly CPI released by the Federal Reserve (FED) on 12th April, 2023 was 5.0%, while the forecast for the next one is also 5.0%.
It the actual data is Greater “Actual” than “Forecast”, 0.5% is advantageous for the currency.
Last Core Monthly CPI released by the Federal Reserve (FED) on 12th April, 2023 was 0.4%, while the forecast for the next one is also 0.3%.
It the actual data is Greater “Actual” than “Forecast”, 0.3% is advantageous for the currency.
About a quarter of the CPI is made up of food and energy prices, although they are frequently quite volatile and skew the overall trend. The Federal Open Market Committee and traders both typically give the Core data more consideration.
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Most of the inflation is accounted for by changes in consumer prices. Currency valuation depends on inflation since it influences interest rate increases by the central bank in accordance with its responsibility to limit inflation.
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