The Main Currencies Are Consolidating Expecting the US Inflation Report

Yesterday's trades on the majors were calm. The US dollar moved away from local extremes relative to the euro and the Japanese yen. In June, the producer price index increased by 0.1% compared to the forecasted value of -0.1%. Today, the attention will be focused on inflation reports and retail sales in the US. Experts expect an improvement in the key figure. This statistic may strengthen expectations about raising the range of the Fed's key interest rate in December of this year. At the moment, the probability of tightening the monetary policy is at the level of 47.3%.

The Australian dollar considerably strengthened against the US currency due to the release of positive statistics on trade in China. The growth of the AUD/USD quotations exceeded 150 points.

The "black gold" quotes show a positive dynamics. At the moment, futures for the WTI crude oil are being traded above $46.00 per barrel.

Market Indicators

Yesterday, the major US stock indices closed in the positive zone. Support was provided by the financial sector. SPY (SPDR S&P500 ETF) rose in the price by 0.17%.

At the moment, the 10-year US government bonds yield is at 2.34%.

The dollar index (#DX) closed the trading session with a slight increase of 0.05%.

Today, the economic reports from the US are in the focus of attention:

- The basic consumer price index - 15:30 (GMT+3:00);
- Statistics on retail sales - 15:30 (GMT+3:00).

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.