The US Dollar steadies on Wednesday, with DXY hovering around 103.50 as traders digest the latest Consumer Price Index (CPI) data. The February inflation report showed both headline and core figures cooling faster than anticipated, reinforcing expectations of softer price pressures ahead of recently imposed United States (US) tariffs. US President Donald Trump was also on the wires, and markets are assessing his words.
The latest CPI report showed inflation decelerating in February, with both monthly and yearly figures coming in below expectations.
Monthly headline inflation registered at 0.2%, down from 0.5% in January, while core inflation eased to 0.2%, softer than the expected 0.3%.
On a yearly basis, headline inflation slipped to 2.8% from 3.0%, while core inflation fell to 3.1% from 3.3%.
On the global trade front, China reaffirmed plans to retaliate against recent US tariffs, adding to trade concerns.
EU Commission President Ursula von der Leyen confirmed that the bloc is preparing to impose countermeasures on April 13.
Diplomatic efforts to end the Ukraine-Russia conflict gained traction, with a potential ceasefire deal brokered by the US now awaiting Russia's response.
During a press event with Ireland's Prime Minister, US President Donald Trump reiterated his grievances over European trade policies, highlighting his intention to impose tariffs on imported cars.
Source: Fxstreet
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