Breaking: Fed's PCE Inflation Data Released - Bitcoin's Market Response

Source: CryptoNewsNet Original Title: BREAKING NEWS: The Fed’s PCE Data Used to Measure Inflation Has Been Released! Here’s Bitcoin’s (BTC) First Reaction! Original Link: Bitcoin and altcoins have seen a rapid recovery over the past few days. However, the pace of this recovery has slowed today, with short-term attention turning to key data from the US.

The first of these will be Personal Consumption Expenditures (PCE) data, due today, and the second will be the Fed’s December interest rate decision, due next week. PCE data for September, which was previously unavailable due to the government shutdown in October, will be released today.

As the FED prepares to announce its interest rate decision without critical data, a 25 basis point cut is priced in the markets at 87.2%.

While global markets displayed a cautious outlook despite the continuation of interest rate cut expectations in the US, data on Personal Consumption Expenditures (PCE), which the FED closely follows when making interest rate decisions and is considered a leading inflation indicator, were announced.

Accordingly, the personal consumption expenditures data for September were as follows:

• Core Personal Consumption Expenditure Price Index (Annual): Announced 2.8% | Expected 2.9% | Previous 2.9%
• Core Personal Consumption Expenditure Price Index (Monthly): Announced 0.2% | Expected 0.2% | Previous 0.2%
• Personal Consumption Expenditure Price Index (Annual): Announced 2.8% | Expected 2.8% | Previous 2.7%
• Personal Consumption Expenditure Price Index (Monthly): Announced 0.3% | Expected 0.3% | Previous 0.3%

Bitcoin’s (BTC) First Reaction: