Core Inflation Rate

The U.S. Dollar Index swung between gains and losses after inflation data kept attention on the Federal Reserve’s next move. EUR/USD hovered near 1.1600, GBP/USD advanced on stronger UK data, USD/CAD extended its rebound, and USD/JPY retreated as traders weighed Bank of Japan risks.

The U.S. dollar moved higher after inflation data matched market expectations, giving dollar bulls room to test nearby resistance. EUR/USD and GBP/USD retreated, USD/CAD rebounded from multi-week lows, and USD/JPY climbed despite softer Treasury yields.

Gold advanced above the $4,050 level after U.S. inflation cooled more than analysts expected, pushing Treasury yields and the dollar lower. Silver tested the $60.00 area while platinum challenged resistance at $1,600 to $1,620 amid a broad precious metals rally.