| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:00 | United Kingdom | HICP, Y/Y | June | 3.4% | 3.4% | 3.6% |
| 06:00 | United Kingdom | HICP ex EFAT, Y/Y | June | 3.5% | 3.5% | 3.7% |
| 06:00 | United Kingdom | HICP, m/m | June | 0.2% | 0.2% | 0.3% |
During today's Asian trading, the U.S. dollar declined against major currencies, while fresh inflation data indicated that President Trump's tariffs are starting to push up consumer prices.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) fell by 0.18% to 98.46.
U.S. consumer prices rose 0.3% in June, the largest monthly gain since January, driven by cost increases in goods like coffee and home furnishings. This uptick fueled speculation that tariff-related inflation is emerging, prompting investors to scale back expectations for Federal Reserve rate cuts this year. Markets now price in around 43–44 basis points of Fed easing by December, down from over 50 basis points earlier in the week. Benchmark Treasury yields also climbed, with the 10-year yield touching a one-month high near 4.5%. The euro and sterling hovered near recent lows, while the Australian and New Zealand dollars saw modest gains.
Adding to market uncertainty, President Trump again criticized Fed Chair Jerome Powell, suggesting that cost overruns on the Fed’s headquarters renovation could justify his removal. Some analysts believe Powell’s position may be increasingly vulnerable. Meanwhile, the administration signaled progress on trade talks, with Indonesia reporting it had secured lower U.S. tariffs, and Trump indicating a deal with Vietnam was nearly finalized.
Investors now await U.S. producer price data for further clues on whether inflationary pressures are broadening beyond consumer goods.