Investors are closely eyeing the release of US Producer Price Index (PPI) data today as it holds significant implications for various markets, including the crypto domain. Moreover, analysts have rolled out analysis for the aftermath of the US PPI report release on the crypto market.
How Will The PPI Report Impact Crypto Market?
Analysts anticipate that the US PPI may have declined from 1.0% in January to 0.6% year-over-year (YoY) in January 2024. This projected decrease suggests a trend toward disinflation, which is a positive development for risk asset enthusiasts. A lower PPI could indicate a potential for softer inflationary pressures in the near future, a favorable scenario for market bulls.
However, market reaction could vary based on the actual PPI figures. The PPI report is expected to follow the CPI report, which fell short of Wall Street estimates. In the event of a “hot print,” indicating unexpectedly high PPI numbers, risk assets may experience a negative response.
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