#CPI数据来袭

The Jin10 data has released the Consumer Price Index (CPI) data for the United States for April 2025 on May 13, 2025, as follows: 

• CPI Year-on-Year (Not Seasonally Adjusted): 2.4%, unchanged from the previous value, slightly lower than the market expectation of 2.5%.

• Core CPI Year-on-Year (Not Seasonally Adjusted): 2.8%, consistent with the previous value, in line with market expectations.

• CPI Month-on-Month (Seasonally Adjusted): 0.2%, lower than the market expectation of 0.3%.

• Core CPI Month-on-Month (Seasonally Adjusted): 0.2%, consistent with expectations.

Interpretation:

1. Inflation pressure eases:

• Both the year-on-year and month-on-month CPI are lower than market expectations, indicating a relief in inflation pressure.

• This suggests that the Federal Reserve faces reduced pressure for further interest rate hikes in the short term, and may even strengthen the market's expectations for rate cuts.

2. Market impact:

• Positive for risk assets (such as cryptocurrencies and stocks): A cooling inflation usually indicates a shift towards looser monetary policy, lowering the cost of capital, which benefits the price increase of risk assets.

• Negative for the U.S. dollar index: Increased expectations for rate cuts weaken the dollar, leading to a rise in the prices of dollar-denominated assets.

Overall judgment:

• Overall, this CPI data is favorable for the cryptocurrency and stock markets, particularly Ethereum (ETH) and Bitcoin (BTC) may have upward momentum in the short term.

• Market reactions can be monitored, especially for long entry opportunities in cryptocurrencies, but close attention should still be paid to further policy statements from Federal Reserve officials.