Coinbase Markets said the UK consumer price index rose 3.5% year over year in September, above the 3.4% consensus, while the unemployment rate unexpectedly fell to 4.7%. The combination has put the Bank of England’s rate outlook back at the center of market attention. In the United States, weak housing starts and pending home sales pointed to continued pressure in the property market. Traders are also watching a fresh batch of macro releases due later this week, including U.S. initial jobless claims, UK retail sales, and preliminary purchasing managers’ index readings. The update was cited by Techub News from a post by Coinbase Markets.
Techub News, citing a post from Coinbase Markets on X, said the UK consumer price index rose 3.5% year over year in September, above the expected 3.4%, while the unemployment rate unexpectedly fell to 4.7%.
Those two readings have brought the Bank of England’s rate outlook into focus.
Weak U.S. housing data
In the United States, housing starts and pending home sales came in weak, signaling that the housing market remains under pressure.
Data due later this week
Markets are also looking ahead to U.S. initial jobless claims, UK retail sales, and preliminary purchasing managers’ index data scheduled for release this week.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
