Ethereum's Post-NFP Rally Fades ahead of US CPI Report - What's Ahead?

Ethereum’s post–Non-Farm Payrolls rally is losing momentum as traders wait for Wednesday’s U.S. CPI report. After rising to about $1,942 on Coinbase on Aug. 7, ETH has pulled back and is now consolidating between $1,850 and $1,880, opening the Wednesday session around $1,887. The initial move came after the U.S. Bureau of Labor Statistics reported July Nonfarm Payrolls fell by 23,000 jobs, missing forecasts for 80,000 to 95,000. CME FedWatch showed a 55.9% chance the Fed stays on hold versus 44.1% for another hike. Expected CPI declines include 3.4% headline and 2.5% core.