{"id":94743,"date":"2023-02-14T10:59:05","date_gmt":"2023-02-14T10:59:05","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/02\/14\/wall-street-estimates-on-us-cpi-data-will-crypto-prices-rally-crypto-news\/"},"modified":"2023-02-14T10:59:06","modified_gmt":"2023-02-14T10:59:06","slug":"wall-street-estimates-on-us-cpi-data-will-crypto-prices-rally-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/wall-street-estimates-on-us-cpi-data-will-crypto-prices-rally-crypto-news\/","title":{"rendered":"Wall Street Estimates on US CPI Data, Will Crypto Prices Rally?\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><iframe loading=\"lazy\" src=\"https:\/\/coingape.com\/wall-street-estimates-us-cpi-inflation-data-crypto-prices\/about:blank\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\" data-rocket-lazyload=\"fitvidscompatible\" data-lazy-src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\"><br \/>\n<\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\"><br \/>\n<\/iframe><\/noscript>\n<\/p>\n<p>The US Bureau of Labor Statistics will announce the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/consumer-price-index-cpi\/\">consumer price index<\/a> (CPI) data for January today.  The inflation rate in the US is expected at 6.2% in January, the lowest since October last year.  The inflation fell significantly in December, dropping from 7.1% to 6.5%.<\/p>\n<p>Meanwhile, core inflation, which excludes volatile food and energy, is expected to ease to 5.4% from 5.7%.  This CPI release is key data that will determine whether the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/federal-reserve-system\/\">US Federal Reserve<\/a> opts for further monetary policy tightening.  The US Fed slowed the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/crypto-market-fed-interest-rate-hike-25-bps\/\">rate hike to 25 bps<\/a> this month due to cooling inflation.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p><strong>Also Read:<\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/shibarium-release-when-shiba-inu-developer-drops-hint-10095\">Shibarium Release When?  Shiba Inu Developer Drops Hint<\/a><\/p>\n<p>The US stock indexes tied to futures Dow Jones, S&#038;P 500, and Nasdaq are currently trading flat and green, after recording over a 1% jump on Monday.<\/p>\n<p>Wall Street expects a further fall in the US CPI data for January as oil and food prices continue to fall.  JPMorgan estimated a 70% chance of CPI coming in at 6.3%.  The bank&#8217;s trading desk predicted a fall below 6.3% would push the market up by 2.5-3%.<\/p>\n<p class=\"LC20lb MBeuO DKV0Md\">Bank of America, Scotiabank, and Barclays expect a fall in CPI to 6.1%.  Whereas, Credit Suisse, JPMorgan, TD Securities, and Wells Fargo predict CPI to come in at 6.2%, the same as per the consensus.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>However, Visa, Goldman Sachs, and Morgan Stanley are expecting CPI to come in at 6.4% for January.  The fall in inflation will be a huge boost for the markets as sentiment is already positive in the year.<\/p>\n<h2>How Will Crypto Market React?<\/h2>\n<p>The crypto market is facing renewed struggles due to the US regulators&#8217; action against crypto firms, staking, and stablecoins.  Traders await US CPI data to make their next move and hope to continue the recovery seen in January.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\">bitcoin price<\/a> is currently trading at $21,849, up 2% in the last 24 hours.  The market sentiment is on the positive side as investors expect cooling inflation in the coming months.<\/p>\n<p>The US Dollar Index (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.marketwatch.com\/investing\/index\/dxy\">DXY<\/a>) fell below 103 today after rising continuously for the last week.  The crypto market moves in the opposite direction to DXY.  Therefore, a decline in DXY will be a key factor to watch amid the volatile market conditions.<\/p>\n<p><strong>Also read<\/strong>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/binance-paxos-busd-fud-massive-bitcoin-outflow-from-binance-what-it-means\">Binance-Paxos BUSD FUD: Massive Bitcoin Outflow From Binance, What It Means?<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA138722\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker.  Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things.  He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD138722\">\n<p>    The content presented may include the personal opinion of the author and is subject to market condition.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US Bureau of Labor Statistics will announce the consumer price index (CPI) data for January today. The inflation rate in the US is expected at 6.2% in January, the lowest since October last year. The inflation fell significantly in December, dropping from 7.1% to 6.5%. Meanwhile, core inflation, which excludes volatile food and energy, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":78664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-94743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/94743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=94743"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/94743\/revisions"}],"predecessor-version":[{"id":94744,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/94743\/revisions\/94744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/78664"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=94743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=94743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=94743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}