Monitor March CPI closely for market impact

Monitor March CPI closely for market impact

by Tiffany Wang, WOO X Analyst

The U.S. Nonfarm payrolls surged by 303,000 for the month, surpassing expectations. Initially, the stock market experienced a drop, fueled by concerns that a robust labor market might deter central banks from implementing rate cuts, but quickly rebounded thereafter. Despite the current restrictive rate environment, the job market is resilient, suggesting a no-landing scenario.

The upcoming U.S. inflation release scheduled for next Wednesday holds significant importance. Elevated inflation in January and February could potentially be attributed to seasonal factors. Market expectations anticipate the first rate cut to occur in the June FOMC meeting, with 2-3 cuts in total throughout the year. If the March CPI exceeds expectations, the market may adjust its projections toward the lower end, considering the strength of the current economy under the existing interest rate regime.

WOO X Research:

BTC can be divided into three ranges based on technical analysis: below $68,000 is the adjustment range, $68,000-$71,700 is the fluctuation range, and above $71,700 is the strong range. On April 8th, BTC reached a high of $72,798, and is currently experiencing a short retracement to around $71,400; overall it remains strong. Most copycat coins are lagging, and the market cap dominance of BTC continues to increase, with the expectation of breaking new highs. However, caution is advised around the time of halving due to potential false breakouts.

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