Log in to today’s North American session Market wrap for August 14.
The latest U.S. Producer Price Index offered the first tangible signs of tariff-led inflation taking hold, with headline PPI rising 0.9% MoM in July (vs. 0.2% expected) and up 3.3% YoY (vs. 2.5% expected). Core PPI followed a similar path, underscoring the early pass-through effects from recent import levies (3.7% on the y/y core data!)
Risk appetite was muted, with Bitcoin, cryptocurrencies, and equities generally lagging as traders digested the inflation surprise and its implications for Fed policy.
Crypto’s recent momentum cooled, with Bitcoin holding around $117,000 and altcoins drifting lower.
Elsewhere, US Treasury Secretary Scott Bessent mentioned the idea of a national cryptocurrency acquisition, framing it as a potential strategic reserve in the digital era, but the headlines couldn’t save the 4.50% correction in BTC.
