Sticky Inflation Keeps Rate Cuts on Hold

The latest US economic releases show that inflation remains stubbornly high and the labor market is still strong, challenging the narrative of aggressive rate cuts in the crypto space.

The weekly jobless claims came in at 197,000 for the week ending July 25, below the expected 200,000, while June's core PCE inflation reading was 3.3% year-over-year, matching forecasts.

This data suggests that employers are holding onto workers and there is no layoff wave building, which keeps the pressure on markets anticipating easing as a near certainty.