The US dollar remained steady as markets awaited the release of the July Consumer Price Index (CPI) report and the approaching August 12 deadline for the US-China tariff truce. Traders anticipate a headline CPI increase of approximately 0.24% for July, which would raise the 12-month inflation rate to 2.8%. Core CPI is expected to rise by about 0.31%, bringing the year-over-year core inflation to 3.1%, up from 2.9% in June and 2.8% in May. The US Dollar Index (DXY) slipped 0.2% to 98.073 amid this cautious market environment. The tariff deadline marks a critical point in ongoing US-China trade negotiations, contributing to the market's subdued activity ahead of these key economic events.
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CALM BEFORE CPI & TARIFF STORM Markets are unusually calm ahead of Tuesday’s inflation report and the Aug 12 U.S.–China tariff deadline. “Morning Bid” note says traders expect headline CPI of about 2.8% and core CPI around 3.0%. https://t.co/eEPpGvMhi3
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