1123 GMT - Bitcoin rises marginally as U.S. stock futures climb after subdued U.S. inflation data Wednesday dampened expectations for an immediate interest rate rise by the Federal Reserve. "With both headline and core inflation cooling in July, the Fed can afford to take more time deciding whether tighter policy is warranted," XM analyst Raffi Boyadjian says in a note. However, the market reaction is somewhat muted as a rate increase in September cannot be ruled out given further data are due before the meeting and inflation remains too high, Boyadjian says. Moreover, inflation risks are still elevated without a deal on reopening the Strait of Hormuz, the analyst adds. Bitcoin rises 0.1% to $63,577, LSEG data show.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments