India, Aug. 12 -- Sentiment in crypto markets weakened ahead of the release of the consumer price inflation data for July from the U.S. on Tuesday morning. A hotter-than-anticipated level of consumer price inflation is seen weakening the case for a Fed rate cut in September, potentially triggering profit booking across risk assets including cryptocurrencies.
In data to be released by the U.S. Bureau of Labor Statistics, headline consumer price inflation in July is seen edging up to 2.8 percent from 2.7 percent in June and 2.4 percent in May. The core component thereof is seen rising to 3 percent from 2.9 percent in June and 2.8 percent in May. While month-on month inflation is seen at 0.2 percent in July versus 0.3 percent in June and 0.1 ...