U S CPI

The U.S. dollar opens the week with traders focused on July CPI and whether the inflation print can reshape expectations for the Federal Reserve’s September decision. EUR/USD and GBP/USD remain near important resistance zones, while DXY is trying to defend rising trendline support.

Dogecoin rose almost 3% to just above 7 cents and BNB gained 2% to $614, while bitcoin was the only major token lower on both the day and the week. Traders are watching Thursday’s U.S. CPI release, rising oil prices and Middle East tensions for clues on the next move in risk assets.

Bitcoin remained locked in its summer trading range as steady exchange-traded fund demand was countered by selling from miners and corporate holders. Traders are watching Wednesday’s U.S. CPI report and possible progress on the Digital Asset Market Clarity Act for the next catalyst.

U.S. Treasury yields are again forcing investors to rethink the price they are willing to pay for risk assets. For bitcoin, the challenge is sharper because its valuation depends on scarcity, adoption and monetary hedging rather than earnings or cash flow.

AUD/USD held recent gains after weaker-than-expected U.S. inflation data sharply reduced the market-implied chance of a July Federal Reserve rate hike. Technical traders are watching nearby support around 0.6970 and resistance near 0.7020 as the pair digests its midweek rally.

EUR/USD has recovered despite weak eurozone growth signals, supported by widening expectations that the ECB may stay more hawkish than the Federal Reserve. The next major test is whether higher European gas prices reinforce inflation fears or revive recession concerns.

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.

Bitcoin is showing signs that panic selling may be fading after holding above $62,000 despite renewed U.S.-Iran tensions and broader market weakness. Fresh spot bitcoin ETF inflows and a sharp slowdown in spot selling add to the case, though some market participants remain wary of a futures-led rebound.