Hi HODLers,
Everything is in the title, Consumer Index Price (CPI) which is supposed to represent the average level of inflation experienced by the American Consumer will be published tomorrow at 8:30AM ET.
As you can see it has been trending down lately but some datas point out that it might be difficult to bring it lower due to the roaring economy.
According to Bank of America, Consumer Credit Card spending went up 5% in January which is way more than the 1-2% in December and could fuel more inflation!
Also, the FED and economists have been emphasizing that the Core CPI (the more sticky part of the inflation) has been cooling down more slowly.
Following the recent Market pump, expecially for risk-on assets such as Tech stocks and Cryptocurrencies are up 30%+ Year to Date and I believe this might be a bit elevated if CPI numbers disappoint.
I did not go fully long yet and I have been thinking that these levels could be a shorting opportunity for a small period of time.
We will see tomorrow! Until then... Take care and don't get REKKKT!
Stay safe out there,
