US Dollar trades in red as traders await CPI data outcome

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The US Dollar (USD) is currently trading at a modest loss at the 104.15 level. The Federal Reserve's (Fed) cautious stance is calibrated in light of incoming data. The US economy has yet to show clear evidence of a moderation of inflation and economic activity, which makes the Fed comfortable to start cutting. Markets are still pricing in higher odds of around 60% of the easing cycle to start in June. On Wednesday, the US will release Consumer Price Index (CPI) data from March, a crucial inflation indicator. The headline figure is seen accelerating, while the core measure is seen cooling down. The outcome of the index will likely fuel volatility in the USD dynamic via movements in Treasury yields and Fed expectations.

#UsDollar #CpiData #FederalReserve

https://www.fxstreet.com/news/us-dollar-trades-in-red-as-traders-await-cpi-data-outcome-202404081651