From Marc Chandler at Bannockburn Global Forex:
Overview: The US dollar is trading somewhat heavier against the G10 currencies but the Scandis today, ahead of the US CPI report. Most emerging market currencies are also firmer. The last few CPI readings were softer than expected, but economists continue to look for firmer price pressures. Late yesterday, the US announced a 17% tariff on imports of Mexican tomatoes but apparently has signaled approval of Nvidia selling its H20 chips to China.
That decision helped lift Chinese tech stocks that trade in Hong Kong, but the CSI 300 itself managed only the most minor of gains. Most other bourses in the region rose. Europe's Stoxx 600 is posting a small gain after retreating in the past two sessions. US index futures point to a firm start. European benchmark 10-year yields are mostly 2-5 bp lower today and the US Treasury yield is not quite two basis points lower to slip below 4.42%. Japan's 30-year yield eased slightly while the 40-year bond yield rose 11 bp before settled up five basis points (~3.49%). Gold is firmer near $3355 but has held below yesterday's high (~$3361). August WTI extended its losses to almost $66.25, the lowest level since July 7, but recovered to a little above $66.80.
USD: The Dollar Index extended its advance yesterday. The last session is settled with a loss was July 2....
....MUCH MORE
