Bitcoin could not resist the $10,924 level and fell below the 50-day SMA on Tuesday.
Inflation figures may boost the USD
The US will release the level of CPI and core CPI on July 11, at 15:30 MT time.
CPI stands for Consumer Price Index. It's one of the main measures of US inflation. There's a direct link between the US inflation and the price of the USD. The higher the inflation, the higher the USD in the short-term. The last time, American CPI came out in line with the forecasts. However, the core CPI reached a lower-than-expected level (0.1% vs. the forecast of 0.2%). The releases resulted in the mixed trading of the USD.
• If the data is greater than the forecast, the USD will rise.
• If the data is weaker than the forecast, the USD will go down.
The level of retail sales released today came out lower than the forecasts.
Will Friday be more optimistic for the USD?
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