Inflation Numbers Steady
U.S. inflation figures for July fell right where economists had forecasted. Headline inflation rose 0.1% for the month and 3.4% for the year, while the core measure—excluding food and energy—climbed 0.2% monthly and 2.5% yearly. These readings signaled a modest easing in price pressures, dampening speculation that the Federal Reserve would raise rates again in September.
Fed Rate Outlook
Following the data release, market expectations for a September rate increase dropped from 46% to 38%. While the reduction in odds helped soothe the markets, traders remain cautious, eyeing upcoming economic releases and the central bank’s policy meeting at Jackson Hole.
Altcoin Performance
Most crypto assets mirrored Bitcoin’s decline. Dogecoin slid nearly 3% to $0.07, XRP fell just over 1% to $1.00, and BNB slipped about 1% to $610. In contrast, Hyperliquid’s HYPE token rose slightly, adding a touch of optimism to a largely bearish day.
Broader Market Reactions
Equity markets responded positively to the inflation data, with the Asia Pacific index gaining around 1% and Korea’s Kospi rallying 4% into a bullish phase. Gold and ether also posted modest gains, while oil price momentum stalled after a brief rise to $90 a barrel.
