US: Annual core CPI ticks up to 2.1% in June vs 2% expected, DXY rebounds toward 97

Eren Sengezer FXStreet

The monthly report published by the U.S. Bureau of Labor Statistics revealed that inflation, as measured by the Consumer Price Index (CPI), in June fell to 1.6% on a yearly basis from 1.8% in May and matched analysts estimates. The core CPI, which excludes volatile food and energy prices, ticked up to 2.1% in the same period to beat the market expectation of 2%.

With the initial market reaction, the US Dollar Index rebounded from daily lows and was last down 0.12% on the day at 96.95.

On a monthly basis, the CPI and the core CPI rose 0.1% and 0.3%, respectively, with both readings coming in higher than the market consensus.

Meanwhile, other data from the U.S. showed that initial weekly jobless claims dropped to 209,000 in the week ending July 5 from 222,000.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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