U.S PPI came in at 5.4%
Expectation: 5.3%
Highest level in 2 months.
Expectation: 5.3%
Highest level in 2 months.
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IMPORTANT UPDATES:
-The Odds of the Federal Reserve raising interest rates next week surge to 64% after PPI comes in higher than expected.
-FTX founder Sam Bankman-Fried is asking the US Supreme Court to overturn his fraud conviction.
-White House Official Patrick Witt warns Congress is running out of time to pass the Crypto Clarity Act.
-Brent Crude Oil surges 5% to $108, highest level since May.
-Saudi Arabia oil production falls to lowest level in 36 years.
-Senate Republicans release updated version of the crypto Clarity Act following August recess negotiations.
-U.S lawmakers consider requiring "kill switches" to shut down AI systems if they become too dangerous.
-The Odds of the Federal Reserve raising interest rates next week surge to 64% after PPI comes in higher than expected.
-FTX founder Sam Bankman-Fried is asking the US Supreme Court to overturn his fraud conviction.
-White House Official Patrick Witt warns Congress is running out of time to pass the Crypto Clarity Act.
-Brent Crude Oil surges 5% to $108, highest level since May.
-Saudi Arabia oil production falls to lowest level in 36 years.
-Senate Republicans release updated version of the crypto Clarity Act following August recess negotiations.
-U.S lawmakers consider requiring "kill switches" to shut down AI systems if they become too dangerous.
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U.S CPI DATA:
U.S Inflation remains at 3.4%.
Expected: 3.4%
U.S core consumer prices rose 0.3% in August, forecast was 0.2
U.S Inflation remains at 3.4%.
Expected: 3.4%
U.S core consumer prices rose 0.3% in August, forecast was 0.2
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BITCOIN UPDATE:
-Bitcoin has pulled back from $78,000 level due to profit bookings & market uncertainty. As of now BTC is trading around $77,000.
-Major Resistance is at $82k-$83k. Important psychological level is at $80,000.
-Important support levels to watch out is $75,000. If this is broken then Major Technical Support is between $73,000 - $72,000
-If bitcoin reclaims $80,000 and if it breaks $83,000 level then my next target is $90,000.
-If bitcoin breaks down below the $72,000 - $73,000 level, then this will weaken the short-term recovery structure.
-Bitcoin has pulled back from $78,000 level due to profit bookings & market uncertainty. As of now BTC is trading around $77,000.
-Major Resistance is at $82k-$83k. Important psychological level is at $80,000.
-Important support levels to watch out is $75,000. If this is broken then Major Technical Support is between $73,000 - $72,000
-If bitcoin reclaims $80,000 and if it breaks $83,000 level then my next target is $90,000.
-If bitcoin breaks down below the $72,000 - $73,000 level, then this will weaken the short-term recovery structure.
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