The US Producer Price Index rose 0.3% in October, below the 0.4% expected by the consensus, while its year-on-year increase stood at 6.5%, compared with the 6.6% anticipated. The core index, which excludes food and energy, matched forecasts at 0.3% month-on-month and 5% year-on-year. This marked a sharp slowdown from September, when headline PPI surged 1.3% and core PPI rose 0.7%. The softer data briefly pushed Bitcoin close to $70,000 and gold above $3,900 per ounce, although both gains quickly faded. The CME Group’s FedWatch tool continued to price in a 25-basis-point rate increase as the most likely outcome of the Federal Reserve’s December 8–9 meeting, with a 50-basis-point hike remaining a minority scenario.
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