US Inflation Report Is In The Spotlight
The volatility of global stock markets remains, despite recent stabilization. Investors focused on the release of data on the CPI and retail sales of the United States. Both viewers can cause further volatility, especially if the consumer price index exceeds expectations. The US dollar continued to trade at weekly lows against other major currencies today. The American currency continues to be vulnerable before the release of the long-awaited data on inflation in the US.
Depending on what indicators will be published, it will be possible to make a forecast on the pace and timing of the Federal Reserve's raising interest rates earlier this year. It is expected, that Core consumer price index will be 0.4%, while the consensus forecast assumes 0.2%. Good data will lead to an increase in the US dollar, which will allow it to win back a number of positions against other currencies.
Bitcoin continues to increase this week. Prices recovered after it was recorded a two-month low ($6.000) on February 6. But even with the recovery, the price for bitcoin fell by 14% in February. Cryptocurrency prices plummeted at the beginning of the year after large banks introduced a ban on the use of credit cards for the purchase of digital currencies.