fromLondon Business News | Londonlovesbusiness.com
2 months agoBitcoin steady above $114,000 as markets await CPI release - London Business News | Londonlovesbusiness.com
Bitcoin was stable above USD 114,000 on Thursday, and is consolidating after Wednesday's advance was sparked by a surprise decline in US producer prices. The PPI fell 0.1% in August, its first drop in four months, reinforcing expectations of easing inflationary pressures. Attention now turns to the CPI data due later today, with markets braced for a reading of 0.3%. A softer outcome could fuel speculation of a higher probability for a 50bp rate cut at the Fed's meeting later this month, providing a further boost to risky assets.