Forex
Home›Forex›Major Pairs›Dollar holds near 100 as investors await US CPI
Dollar holds near 100 as investors await US CPI
FXStreet said expectations for a lower annual CPI reading could temper Fed rate-hike bets, with EUR/USD steady near 1.1540 ahead of German HICP.
The US Dollar Index is trading little changed just below the 100.00 level as investors look ahead to the US July CPI report expected on Wednesday, with traders positioning for an annual reading they expect to be lower than June. FXStreet reports that expectations for softer inflation could reduce rate-hike bets for the Federal Reserve, which is weighing on the dollar.
FXStreet said Wall Street traded lower on Tuesday, adding pressure to the greenback. The newsletter also flagged currency moves across major pairs, including EUR/USD largely unchanged near 1.1540 as it awaits the July German Harmonized Index of Consumer Prices.
In Asia, FXStreet noted AUD/USD was steady around 0.7060 after the Reserve Bank of Australia left rates unchanged at 4.35% on Tuesday. USD/JPY was described as flat near the lower end of 159.00 after earlier intervention-driven losses faded, while USD/CAD fell to a two-month low as the Canadian dollar strengthened alongside higher oil prices.
FXStreet also tied some risk moves to the Middle East, noting gold was trading lower near a two-month high around $4,400 per troy ounce amid a frozen US-Iran conflict, and that WTI oil was slightly higher near $83.30 per barrel with the Strait of Hormuz closed. Elsewhere, GBP/USD was holding around 1.3500 amid ongoing instability in the Middle East and modest greenback gains.
Latest closeGold $4,448.60 ▲2.5%|WTI crude $82.30 ▲5.3%|EUR/USD 1.155 ▲0.2%