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GBP/USD backslid again on Tuesday after US CPI clocked rising price pressures.The Pound Sterling is down nearly 3% against the Greenback in July.GBP/USD shed another two-thirds of one percent top-to-bottom on Tuesday, extending into an eighth consecutive day of Cable losses. The US Dollar (USD) caught a risk-off bid after US Consumer Price Index (CPI) inflation rose through June, reigniting fears of another pushback on the Federal Reserve’s expected pace of rate cuts through the year-end.US CPI up, rate cut hopes downUS CPI inflation crept up through the end of the second quarter. Even though the numbers mostly met or…

The Dow Jones fell on Tuesday, but still remains within recent consolidation.Equities backslid after US CPI inflation came in hotter in June, stoking Fed rate concerns.Large bank earnings also came in mixed or lower, forcing investor sentiment slightly lower.The Dow Jones Industrial Average (DJIA) fumbled on Tuesday, losing enough ground to knock the megacap index back below the previous week’s close, but still holding onto near-term consolidation levels. US Consumer Price Index (CPI) inflation showed price pressures are still on the wrong side of Federal Reserve (Fed) targets, knocking investor hopes for a summer rate cut even further back.Inflation: Back…

US CPI rises to 2.7% YoY, first meaningful jump in five months.Core inflation sticks at 2.9%, reinforcing Fed’s cautious stance.UK growth concerns deepen as BoE rate cut bets rise to two by year-end.The GBP/USD extended its losses to four consecutive days after the latest inflation report in the United States (US) showed signs of rising, the first indication that tariffs triggered a jump in prices. At the time of writing, the pair trades below 1.3400, down by 0.23%.Sterling extends losing streak to four days after hot US CPI fuels Fed hold bets and BoE cut expectationsThe US Bureau of Labor…

EUR/CHF remains locked in a descending triangle pattern, with price consolidating around 0.9300.The Euro remains under pressure against the Swiss Franc due to the bearish structure.Momentum indicators continue to reflect that bearish bias remains intact.The Euro (EUR) is trading in a narrow range against the Swiss Franc (CHF) on Tuesday, with price action consolidating near the 0.9300 mark. At the time of writing, EUR/CHF remains within a well-defined descending triangle pattern. The price is currently holding above support at 0.9293, the base of the triangle. A confirmed break below this level would expose the May low at 0.9280. On the…

| Photo Credit: Andrii Sedykh The rupee gained one-fifth of a per cent on Tuesday and ended at 85.82 against the dollar. Thus, the local currency recouped the losses it made in the recent sessions, which were largely due to a recovery in the greenback.The recent surge  in the dollar began after the jobs data was released in the first week of this month. Subsequently, the series of tariff threats from Donald Trump is also aiding the dollar in gaining  on the back of risk aversion in the market.Not just the dollar, this also helped push the treasury yields up,…

The rupee appreciated 10 paise to close at 85.82 (provisional) against the US dollar tracking the weakness of the greenback in the overseas market and a decline in global crude oil prices. However, foreign fund outflows, along with uncertainties on the outcome of the ongoing India-US trade talks, capped sharper gains in the local unit, according to forex traders. An Indian commerce ministry team is in Washington for another round of talks on the proposed bilateral trade agreement (BTA). The four-day talks, which started on Monday, will conclude on Thursday. At the interbank foreign exchange, the rupee opened at 85.97…

The rupee was trading flat at 85.92 against the US dollar in early trade on Tuesday amid a weaker greenback against overseas currencies and a dip in global crude oil prices. However, FII outflows and continuing uncertainty over the outcome of the India-US trade talks prevented a rise in the domestic unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.97 against the greenback before inching up to 85.92 – the same level as its previous close. The rupee depreciated 12 paise to close at 85.92 against the US dollar on Monday. “The rupee fell…

President Donald Trump delivered another litany of comments on a range of comments on Monday. According to President Trump, trade negotiations are progressing nicely, and the oft-touted trade deals that are just around the corner continue to be nearly ready to be announced. Trump also noted that he speaks to Russian President Vladimir Putin “a lot”, and that Trump is demanding a peace resolution in Ukraine after campaigning on a plan to have the Ukraine invasion resolved within his first month of resuming office.Trump has suggested that he will impose 100% tariffs on Russia, as well as secondary sanctions on…

USD/JPY rises above 147.00 as investors look ahead to Tuesday’s US Consumer Price Index release.The US Dollar remains bid against the safe-haven Japanese Yen as yield differentials remain supportive of USD/JPY strength.USD/JPY momentum turns bullish as the RSI rises to 64.The Japanese Yen (JPY) remains on the back foot against the US Dollar (USD) on Monday as rate expectations and tariffs continue to drive sentiment.With USD/JPY price action heading toward the 148.00 psychological level at the time of writing, attention is shifting to the release of US Consumer Price Index (CPI) data on Tuesday For the Bank of Japan (BoJ), low…

Gold edges lower as the US Dollar rebounds ahead of Tuesday’s Consumer Price Index (CPI)Bullion bulls fail to gain traction above Fibonacci resistance, pushing price action back toward $3,350.XAU/USD remains vulnerable to US Dollar price action and risk sentiment. Gold (XAU/USD) is trading between $3,340 and $3,370 on Monday in response to news that the US may impose a 30% tariff on imports from the European Union (EU) and Mexico, effective August 1.The latest tariff threats on two of America’s largest trading partners have provided a tailwind for XAU/USD. At the time of writing, the Gold price is trading near $3,350…