As of Tuesday morning, according to recent data, inflation is slowing down. Consumer prices in May rose at the slowest annual rate since April 2021. To be more specific, the Consumer Price Index (CPI) for May showed an increase of just 4% year-on-year, below expectations for a 4,1% increase.
Now, in the stock market, early this morning pre-opening was positive with Nasdaq futures up 0,5%, S&P 500 futures up 0,2% and Dow futures up 0,1%.
According to CME Group data, there is now a chance 97% of the Fed not raising interest rates on Wednesday. The latest Summary of Economic Forecasts suggests that this year's balance has booked. In March, the rates suggested by the SEP would not exceed the current level of a range between 5% – 5,25%; therefore, tomorrow's forecast will be closely watched.
Bitcoin appears to be attempting a recovery wave above $26.000. It is currently priced at $26.100, up 1.0% on the day. BTC is struggling to hold above this zone and is now moving to test the $26.500 zone.
O Fed will announce its US interest rate decision at 14:00 PM ET (15:00 PM BRT – 18:00 PM UTC) on Wednesday, with Powell set to speak to the media from 14:30 PM ET (15:30 PM BRT – 18:30 PM). :XNUMX UTC).
