Traders need to watch American CPI

Traders need to watch American CPI

CPI stands for Consumer Inflation Index and changes in this index correspond to the level of consumer inflation. Higher inflation creates the reason for the Federal Reserve to raise rates and, consequently, is positive for the US dollar, while lower inflation, on the contrary, represents bad news for the greenback.

The last release of these statistics has a very negative impact on the USD: CPI was unchanged in June after a 0.1% decline in May as the cost of gasoline and mobile phone services declined further. This creates doubts that the Fed will be able to increase rates for the third time this year. For the market players to start seriously buying the USD, we will need to see an increase in American CPI.

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