US Dollar (DXY) Price, Chart, and Analysis
- The US dollar sheds half a point after the CPI release.
- Headline inflation rises by less than expected.
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Core inflation fell and headline inflation rose by less than expected in July, according to the latest US Inflation Report. Core inflation fell to 4.7% y/y, the lowest level since October 2021, while headline inflation rose from 3% to 3.2% but missed market expectations of 3.3%.
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Bureau of Labor Statistics Release
The marginally better-than-expected report sent the US dollar lower by around 50 pips as further rate hike expectations eased a fraction. EUR/USD touched 1.1065 before retreating back to 1.1035 at the time of writing, while GBP/USD clipped 1.2820 before falling back to 1.2775. Interest-rate sensitive gold rose to $1,930/oz after opening Thursday at $1,914/oz. before slipping back to $1,925/oz.
The US dollar (DXY) currently trades at 102.02 after opening the session at 102.489.
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US Dollar (DXY) Daily Price Chart – August 10, 2023
Chart via TradingView
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