US business activity expanded slightly in October, while prices recorded their strongest increase since 2022, according to Bloomberg Economics. The inflationary surge was driven by higher fuel, transport and wage costs. This follows a 58.4 reading on the S&P Global US Composite PMI in September, the highest level since July 2021, and could influence expectations about Federal Reserve monetary policy and interest rate adjustments. Market pricing currently links a less aggressive monetary stance to the possibility of higher Bitcoin valuations, although upcoming inflation and economic data and comments from Federal Reserve Chair Jerome Powell will be decisive.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
