Insights

PCE data comes in slightly lower than expected; Bitcoin holds firm at $28K

exchange68September 13, 2024

0 0 1 minute read

Quick Take

U.S. Feb. Core PCE Price Index (MoM): 0.3%, [Est. 0.4%, Prev. 0.5%]
U.S. Feb. Core PCE Price Index (YoY): 4.6%, [Est. 4.7%, Prev. 4.7%]
U.S. Feb. Personal Spending (MoM): 0.2%, [Est. 0.3%, Prev. 2.0%]
U.S. Feb. PCE Price Index (YoY): 5.0%, [Est. 5.1%, Prev. 5.3%]
CryptoSlate reported that core inflation is one of the hardest metrics to bring down for central banks.
But the U.S. data has come in lower than expected but still too hot for the feds liking; another rate hike is probable.
This morning, Eurozone core inflation hit an all-time high of 5.7%.
Bitcoin remains above $28,000

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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