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    HomeFinanceCrypto Rally Ignited by PPI Data, Tariff Fallout Raises Concerns Among Economists

    Crypto Rally Ignited by PPI Data, Tariff Fallout Raises Concerns Among Economists

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    The United States Bureau of Labor Statistics recently released the Producer Price Index (PPI), which measures inflation. The report showed that wholesale prices increased less than expected in December, which is seen as a positive sign for the economy. There were concerns that inflation was not falling fast enough, but this data suggests otherwise.

    The Core PPI, which excludes food and energy prices, remained flat at 0 percent, while analysts had predicted a 0.2 percent increase. The monthly PPI also came in lower than expected at 0.2 percent, compared to the consensus of 0.4 percent.

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    Following the release of the PPI data, the US Dollar Index (DXY) dropped from around 110 to about 109. This index is expected to experience increased volatility in the coming weeks as the country undergoes political changes under the new administration.

    Also read:  Prediction for Today's Ethereum (ETH) Price

    There are also concerns about potential international tariff hikes under the Trump administration, which could impact the US Dollar Index. Chris Ripkey, a top economist at FwdBonds, commented on the incoming president-elect’s policies and their potential impact on inflation.

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    While the slight inflation victory does not guarantee a rate cut later this month, the cryptocurrency market has rebounded due to the weakening US dollar. The Federal funds rate currently stands at 4.5 percent after several rate cuts since September.

    The next few weeks will be crucial for the cryptocurrency industry, as the ongoing bull rally continues. The high-impact news, such as the PPI data, will have a significant impact on the overall bullish momentum in the market.

    Note: Investments carry market risks. Please invest carefully. We do not accept responsibility for any financial losses.

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    Rajesh M
    Rajesh Mhttps://www.telanganatribune.com
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