US EditionDollar Eases as US Inflation Data Keeps September Rate Cut on Table
US inflation data for July showed a 2.7% annual rise and core CPI up 3.1%, increasing market expectations of a Federal Reserve interest rate cut in September to 90%.
- On Monday, the EUR/USD pair traded around 1.1650 after an early high at 1.1675.
- Investors are preparing for US CPI and PPI reports for July as data could influence Federal Reserve policy.
- July CPI is forecast to rise by 0.2% month-on-month, down from 0.3%, with the annual rate climbing to 2.8% and the core index steady at 0.3%.
- Despite inflation pressures, markets are pricing in a near-90% probability of a Fed rate cut in September, and yield differentials are narrowing against the dollar, Schamotta said.
- According to MUFG, a bigger inflation pickup could delay a Fed rate cut, while ING warns stronger US core CPI may push EUR/USD below 1.160 soon.
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Dollar eases as US inflation data keeps September rate cut on table
NEW YORK :The dollar eased against the euro on Tuesday after U.S. consumer prices increased moderately in July, leaving intact the case for a Federal Reserve interest-rate cut next monthThe consumer price index rose 0.2 per cent last month after gaining 0.3 per cent in June, the Labor Department's Bureau of L
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Coverage Details
Total News Sources22
Leaning Left2Leaning Right1Center5Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 25%
C 63%
13%
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