The highly anticipated US CPI figures for July will be released on Wednesday, August 8 at 8:30am ET.
Investors appear optimistic they will see signs of peak in inflation this month, with expectations for a softer headline print thanks to the recent decline in commodities. The data will also play a key role in market speculation concerning the Fed’s rate hike path, and is therefore likely to have a significant impact across various financial markets.
Despite pulling back from its highs, the US Dollar Index has made a consistent series of higher lows since the middle of 2021. However, USD’s ability to continue trending higher against other major currencies could be determined by how traders react to the inflation data.
Check out this article for a preview into the July CPI report and how it could impact the greenback: