EUR/USD defends US inflation-inspired gains near 1.0300 at one-month high – by anilpanchal7 EURUSD RiskAppetite Fed Inflation China
US CPI tamed hawkish Fed expectations by easing below market forecasts, prior in July.US PPI, Jobless Claims can entertain traders, risk catalysts are the key.
As per the latest US inflation data, the US Consumer Price Index , declined to 8.5% on YoY in July versus 8.7% expected and 9.1% prior. The Core CPI, which excludes volatile food and energy prices, stayed unchanged at 5.9% YoY, compared to the market consensus of 6.1%. On the other hand, Germany’s final readings of Harmonized Index of Consumer Prices inflation gauge for July confirmed 8.5% YoY readings.
It’s worth noting, however, that Minneapolis Fed President Neel Kashkari recently said that The Fed is "far, far away from declaring victory" on inflation. The policymaker also added that he hasn't "seen anything that changes" the need to raise the Fed's policy rate to 3.9% by year-end and to 4.4% by the end of 2023.
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