US Core Consumer Price Index data for the latest month is due at 12:30 UTC, putting underlying inflation at the center of today’s session and making it the main dollar event on the economic calendar.
What Core CPI measures
Core CPI tracks the month-over-month change in the price of a basket of consumer goods and services, excluding the food and energy categories whose prices tend to swing sharply from month to month. Stripping those out leaves a cleaner read on the underlying trend in US inflation. The data is compiled by the US Bureau of Labor Statistics and is released monthly.
Markets watch the release closely because the Federal Reserve weighs core inflation heavily when it assesses how restrictive policy needs to be, so the print feeds directly into interest-rate and dollar expectations. The forecast is 0.2% for the month, a touch below the 0.3% recorded in the previous reading.
How the dollar’s crypto pairs are trading
Ahead of the data, the dollar-quoted crypto instruments on our feed are trading firmer across the board. XTZ/USD leads the move, up 8.49% at 0.3004, with UNI/USD close behind, higher by 8.14% at 7.5375.
The mid-cap names are also bid: MATIC/USD trades 3.16% higher at 0.0915, while BCH/USD is up 2.95% at 272.86. DOGE/USD adds 2.81% at 0.0842 and GRT/USD rounds out the movers, up 2.78% at 0.0259.
Core CPI is watched as a gauge of how quickly US price pressures are cooling, and as an input to the Federal Reserve’s next policy steps.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
