Forex Today: US Dollar on pause ahead of US CPI
Here is what you need to know for Wednesday, July 12:
The US Dollar Index (DXY) is trading little changed in the vicinity below the 100.00 price zone ahead of the United States (US) July Consumer Price Index (CPI), which is expected on Wednesday. Investors expect the report's annual reading to be lower than June’s reading, reducing rate-hike bets from the Federal Reserve (Fed) and weighing on the US Dollar. Wall Street traded in the red on Tuesday, weighing on the Greenback.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.07% | 0.06% | 0.00% | -0.13% | -0.09% | 0.03% | 0.21% | |
| EUR | -0.07% | -0.01% | -0.06% | -0.18% | -0.12% | -0.03% | 0.15% | |
| GBP | -0.06% | 0.00% | -0.04% | -0.19% | -0.12% | -0.06% | 0.15% | |
| JPY | 0.00% | 0.06% | 0.04% | -0.14% | -0.08% | 0.01% | 0.21% | |
| CAD | 0.13% | 0.18% | 0.19% | 0.14% | 0.07% | 0.15% | 0.34% | |
| AUD | 0.09% | 0.12% | 0.12% | 0.08% | -0.07% | 0.09% | 0.29% | |
| NZD | -0.03% | 0.03% | 0.06% | -0.01% | -0.15% | -0.09% | 0.19% | |
| CHF | -0.21% | -0.15% | -0.15% | -0.21% | -0.34% | -0.29% | -0.19% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
On another note, the Iranian Security Chief Mohsen Rezai asked the US to fulfill all of Iran’s conditions to end the war, freeing the blocked Iranian funds and assets, and to also pay back all of the damages caused by the Middle East conflict.
EUR/USD is largely unchanged on the day close to1.1540 as the pair awaits the July German Harmonized Index of Consumer Prices (HICP).
USD/JPY trades flat near the lower end of 159.00 after the intervention-generated losses wither away. There’s no relevant Japanese data to look out for this week.
AUD/USD trades muted around the 0.7060 level after the Reserve Bank of Australia (RBA) left rates unchanged at 4.35% on Tuesday in the Asian session.
USD/CAD fell to a two-month low as the Canadian Dollar (CAD) strengthens amid higher Oil prices.
Gold is trading lower near a two-month high around $4,400 per troy ounce amid the frozen conflict between the US and Iran.
West Texas Intermediate (WTI) Oil trades up slightly to $83.30 per barrel as the Strait of Hormuz remains closed.