The Swiss Franc (CHF) weakens against the US Dollar (USD) on Tuesday, as traders flock to the Greenback in response to hotter-than-expected US inflation data. The Consumer Price Index (CPI) figures reignited bets that the Federal Reserve may delay its first interest rate cut, boosting US Treasury yields and driving broad-based demand for the US Dollar, with USD/CHF climbing above the 0.8000 mark for the first time since late June. At the time of writing, the USD/CHF pair is trading near 0.8021, up over 0.50% on the day. The latest US inflation data showed that prices continued to rise in...
The Australian Dollar (AUD) weakened further against the US Dollar (USD) on Tuesday following the release of US inflation data that dampened hopes for a near-term interest rate cut. The Greenback surged across the board, pushing AUD/USD to 0.6510 during the American trading session. US Consumer Price Index (CPI) rose 0.3% in June from the previous month, slightly above the 0.2% consensusand 2.7% YoY, surpassing May's 2.4% print. It marked the fastest pace since January and signaled that underlying price pressures remain sticky despite the Fed's tightening efforts. The data prompted a sharp...
Gold price tumbled on Tuesday, down more than 0.40% following the release of the latest inflation report in the United States (US), which boosted the US Dollar to the detriment of the precious metal. Comments by US President Donald Trump and risk aversion, instead of driving Bullion prices higher, weighed on the precious metal, which trades at $3,329 after hitting a daily peak of $3,366. The market mood is mixed, with US equities fluctuating between gains and losses following the release of the June Consumer Price Index (CPI). Headline and core figures on an annual basis rose, signaling...