The USD/JPY pair trades in a calm manner around 145.00 during European trading hours on Wednesday (6/11). The pair is oscillating in a tight range, as investors await the US Consumer Price Index (CPI) data for May, which will be published at 12:30 GMT. Ahead of the US inflation data, the US Dollar Index (DXY) is fluctuating around 99.00. Investors will be watching the US inflation data as it will influence market expectations on the Federal Reserve's (Fed) monetary policy outlook. As measured by the CPI, headline inflation is expected to grow at a faster pace of 2.5% annually, compared to...
The US Dollar Index fell to 98.7, near a three-year low of 98.0 last seen in April, after weaker-than-expected inflation data dampened market sentiment. US consumer prices rose 2.4% year-on-year in May, up from 2.3% in April but slightly below market consensus of 2.5%. Energy prices have fallen 3.5% over the past year, while food prices rose 2.9%. Core inflation—which excludes food and energy—held steady at 2.8%, slightly below forecasts of 2.9%. Despite the weaker data, inflation remains above the Federal Reserve's 2.0% target, reinforcing expectations that policymakers are unlikely to...
Gold futures rose on Wednesday morning as the dollar and yields fell after a report showed U.S. inflation eased last month. Gold for August delivery was last seen up $16.40 at $3,359.80 an ounce. The U.S. Bureau of Labor Statistics reported the Consumer Price Index rose 0.1% in May from April, down from a 0.2% pace in the previous month and below the consensus estimate for a 0.2% increase, according to Marketwatch. Core CPI, which excludes volatile food and energy costs, rose 0.1% on a month-over-month basis, down from 0.2% in April, while the consensus estimate was for a 0.3%...
Oil prices rose to a seven-week high on Wednesday as US President Donald Trump said a deal was in place with China, raising expectations of a de-escalation in trade tensions between the world's two largest economies. Brent crude futures rose $1.15, or 1.7%, to $68.02 a barrel by 1249 GMT, while US West Texas Intermediate crude futures rose $1.31, or 2%, to $66.29. At that level, WTI hit its highest in more than two months. Trump said Beijing would supply magnets and rare earth minerals and the US would allow Chinese students into its colleges and universities. Trump added that the deal was...
Gold rose after a softer-than-expected inflation reading bolstered bets that the Federal Reserve will cut interest rates later this year. Underlying US inflation rose in May by less than forecast for the fourth month in a row, suggesting companies are finding ways to limit how much of higher costs from tariffs they pass through to customers. The dollar and bond yields pushed lower after the print, sending bullion higher by as much as 1.1% before paring some of the gains. Bullion typically benefits from a lower rate environment as it pays no interest. Gold is...