While Bitcoin has exhibited sharp movements recently, it fell to the level of $ 62,800 in yesterday’s decline.
While BTC rose above $64,000 again, data on Personal Consumption Expenditures (PCE), which is closely followed by the FED when making interest rate increase decisions and is considered a leading inflation indicator, was announced.
Accordingly, all data announced on personal consumption expenditures in March are as follows:
Core Personal Consumption Expenditures Price Index (Annual) Announced 2.8% – Expected 2.6% – Previous 2.8%
Core Personal Consumption Expenditures Price List (Monthly) Announced 0.3% – Expected 0.3% – Previous 0.3%
Personal Consumption Expenditures Price Index (Annual) Announced 2.7% – Expected 2.6% – Previous 2.5%
Personal Consumption expenditures Price Index (Monthly) Announced 0.3% – Expected 0.3% – Previous 0.3%
First reaction of Dollar and Bitcoin:
What is Core Personal Consumption Expenditures Price Index? What is the Effect on Price?
Core Personal Consumption expenditures (PCE) determine the rate of inflation experienced by consumers when purchasing goods and services other than Food and Energy.
Currency traders observe the Core PCE Price List as the Reserve Bank’s preferred consumer inflation indicator.
PCE differs slightly from CPI in that it only identifies services and goods that are consumed and targeted separately. The Nutrient and Energy calculation is roughly 25% of the PCE, but these can vary widely from month to month and distort the whole picture. Like the CPI, it reflects price changes in consumer goods and services. By excluding the variable components, PCE would be a better indicator under the inflationary slope. (investing.com)
*This is not investment advice.