United States Producer Price Index ex Food & Energy (YoY) below forecasts (5.2%) in June: Actual (4.7%)

FXStreet Team FXStreet

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD advances toward 1.3500, touches fresh monthly high

EUR/USD clings to modest gains above 1.1400 after US data

Gold struggles to gather recovery momentum, holds near $4,050

Crypto Today: Bitcoin, Ethereum, XRP stall after US CPI-driven mild rally

The cryptocurrency market pauses on Wednesday, following a brief, macro-driven rally the previous day. Bitcoin (BTC) is consolidating above $64,500, signaling waning bullish momentum and increased profit-taking as sellers emerge.

The conflict in the Middle East: A massive blow to growth in the Gulf

For the first time since 2009 (excluding COVID), the GDP of the Gulf Cooperation Council (GCC) is expected to contract this year (-0.8%), whereas pre-conflict forecasts had predicted growth of 4.7%.

-0.4%: Why the biggest CPI drop since 2020 couldn't buy back a single cut

The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.