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Fed Chair Kevin Warsh spoke at 06:30 MSK at the IMF annual meeting in Bangkok and refused to give any hints on the rate. The dollar index DXY (the dollar's exchange rate against a basket of six currencies) moved to 101.82, down 0.22% and a 10-day low.
On Thursday, October 15, BTC dropped below $80,000, but recovered back to $82,300-82,500 in less than two hours. Over the day, $937.06 million worth of positions were forcibly closed on the crypto derivatives market.
US September inflation came in above forecast: 3.7% versus expected 3.6%. Today, October 15, the market will receive three more important data blocks - PPI, retail sales and weekly jobless claims.
Over the past 24 hours, leveraged positions worth $951.4 million were liquidated on the crypto market, with $876.3 million coming from longs. Bitcoin dropped to $80,764, while Ethereum lost more than 6%.
US September inflation accelerated to 3.7% year-on-year versus a forecast of 3.6%. After the release, the market sharply raised expectations for another Fed rate hike, the DXY dollar index rose to 102.84, and EUR/USD fell to a 17-month low.
US September CPI came in above expectations: 3.7% year-over-year versus a forecast of 3.6%, while core inflation accelerated to 2.6%. The market quickly raised the probability of another Fed move, and Bitcoin fell below $83,000 in five minutes.
Today at 15:30 MSK, the US consumer inflation report for September will be released. Headline CPI is expected at 3.6% year-on-year versus 3.4% in August, with gasoline prices potentially making the main contribution to the acceleration.
Cleveland Fed President Beth Hammack said the U.S. economy remains strong and inflation is high. In her view, the Fed needs to continue tightening monetary policy, although the pace of rate hikes may be adjusted.
On October 9, gold gained more than 1.4% and rose to $4,207 per ounce, recovering from a daily low of around $4,130. The metal was supported by weak US consumer sentiment data, falling government bond yields, and a weaker dollar.
On Wednesday, October 14 at 15:30 MSK, the US will publish September CPI. The market expects headline inflation to accelerate to 3.6% year over year, while the monthly core reading, on the contrary, may slow to 0.2%.
