US CPI Data Surprises, USD Weakens as Market Awaits Key Rate Decisions
Yesterday’s US CPI data came in below forecast, with the headline reading receding by 0.1% in June, contrary to expectations of a 0.1% gain.
Yesterday’s US CPI data came in below forecast, with the headline reading receding by 0.1% in June, contrary to expectations of a 0.1% gain.
Read moreYesterday’s US CPI data came in below forecast, with the headline reading receding by 0.1% in June, contrary to expectations of a 0.1% gain.
Jerome Powell, Chairman of the US Federal Reserve, will deliver the Semi-Annual Monetary Policy Report and testify before the Senate Banking Committee today.
A quiet day in the currency markets yesterday saw the USD fall 0.25%, marking its third consecutive daily loss, continuing to grind lower overnight ahead of today’s nonfarm payrolls (NFP) data.
After gains of 0.23% ahead of the North American session yesterday, the USD closed 0.15% lower following Powell’s panel commentary, which leaned dovish.
The US Dollar started out strong today before falling flat, with the bond market fretting over former US President Donald Trump’s spending plans.
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