- The index comes under pressure near 102.20.
- US yields advance marginally across the curve so far.
- US inflation is expected to rise 3.3% YoY in July.
The greenback adds to Wednesday’s pullback and revisits the 102.20 region when tracked by the USD Index (DXY) on Thursday.
USD Index looks at US data
The index loses ground for the second session in a row and navigates in the low-102.00s on Thursday amidst rising expectation ahead of the release of US inflation figures for the month of July.
According to market consensus, US consumer prices are seen rising 3.3% in the year to July, a tad above June’s readings and the first uptick since June 2022.
In the meantime, US yields appear slightly bid following the recent weakness against the backdrop of steady bets that the Federal Reserve could have ended its tightening campaign with July’s interest rate hike.
Other than the release of inflation figures, weekly Jobless Claims are due and Philly Fed P. Harker (voter, hawk) and Atlanta Fed R. Bostic (2024 voter, hawk) are also scheduled to speak later in the NA session.
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