According to the data published by the US Bureau of Labor Statistics (BLS), inflation, as measured by the Consumer Price Index (CPI), rose 0.3% on a monthly basis in July following June's reading of 0.1% and came in line with the market expectation. The annual CPI in the same period rose to 1.8% to beat analysts' estimate of 1.7%.
Further details of the report revealed that the core CPI, which excludes volatile food and energy prices, matched June's reading with 0.3% on a monthly basis and ticked up to 2.2% annually, slightly higher than the experts' forecast of 2.1%.
With the initial market reaction, the US Dollar Index seems to be pushing higher but remains in its daily range. At the moment, the index is up 0.05% on the day at 97.45.
Source : FXstreet