Daily digest market movers: Lower US inflation dampens US Dollar's appeal
- The decrease in US inflation, as gauged by the Consumer Price Index (CPI), was a main decider of the day's market dynamics.
- Headline CPI decelerated to 2.9% on a YoY basis in July from June's level of 3%, slightly below the market expectations.
- Core CPI (which excludes the fluctuating food and energy prices) stood at 3.2% YoY, an increase from 3.3% seen in July, aligning with the market predictions.
- The possibility of a cut by the Federal Reserve (Fed) in September stands at around 80%.
- These future easing probabilities will be highly dependent on other economic indicators.
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