US inflation reduced in June? The Consumer Price Index indication
London: 10 August 2023 (TraderMade): The Bureau of Labor Statistics (BLS) in the US has scheduled Consumer Price Index, initial jobless claims, and inflation rate announcements at 12:30 PM UTC on 10th August 2023. This is among the most significant economic indicators financial experts and analysts look forward to.
What is Expected Today?
Financial experts anticipate a rise in the CPI to 3.3% compared to 3% in June. Similarly, core CPI inflation may be steady at around 4.8% as per experts. This figure excludes volatile food and energy prices.
The CPI inflation announcement may change the Fed's rate outlook and influence the US Dollar significantly.
Despite tighter labor market conditions in the US, the US Dollar has been gaining strength since last month against other major currencies.
Notably, the Fed has indicated another rate hike before the end of this year. So, experts speculate that the tightening measures will continue amid possibilities of US inflation in near future.
The US Consumer Price Index and subsequent reports related to unemployment rate and inflation may affect EURUSD, GBPUSD, and other major currency pairs. Market analysis is therefore critical to make informed decisions.
