Inflation in the US, as measured by the change in Personal Consumption Expenditures (PCE) Price Index, declined to 2.4% on a yearly basis in January, the US Bureau of Economic Analysis reported on Thursday.
The Australian Dollar trimmed losses against its American rival, as US indexes trimmed inflation-inspired losses. Australian Consumer Inflation Expectations stand out in the Asian session.
The EUR/USD pair flirted with the 1.1000 level after US inflation data cooled hopes for an aggressive Federal Reserve rate cut. The European Central Bank will announce its decision on monetary policy on Thursday.
Is there still a chance? Investors hope for a 50-bps rate cut from the Fed but also fear a global recession is underway. The world's three largest economies, the US, China, and the eurozone, are set to rock global markets.
Gold touches the top of its range and then falls back down to $2,500 after the release of US inflation data on Wednesday. The benchmark 10-year US Treasury bond yield rebounds on stronger-than-forecast monthly core CPI print and drags XAU/USD lower.
Ripple (XRP) has plans to introduce smart contract functionality to its native blockchain, the XRP Ledger. However, as of September 11 the firm has not announced a date for its launch on the mainnet.
