Gold prices rally as weaker-than-expected U.S. CPI figures lead to a sharp drop in nominal yields and the U.S. dollar. Meanwhile, EUR/USD soars past technical resistance, reaching its best level since March 2022.

The Bank of Canada raised interest rates by 25 basis points to 5.00% and indicated that progress on the inflation front will slow going forward, a sign that the tightening cycle may not yet be over.

US inflation fell more than expected with headline and core beating estimates. This may be a sign that the Fed are winning the fight but unlikely to deter the Central Bank from a hike at its upcoming meeting.

The Pound continues to garner strong support from the view that UK interest rates have much further to rise

Inflation expectations point to sustained higher prices to claw back losses at an impressive rate as signs of demand driven inflation and sustained wage growth

​​Outlook on FTSE 100, DAX 40 and Nasdaq 100 ahead of Wednesday’s U.S. inflation report for June.

The euro looks to US CPI for short-term guidance after which Fed and ECB speakers will provide their perspectives.

The usual cautious lead-up to the US CPI release has failed to deter risk appetite in Wall Street overnight, as major US indices pushed higher on strength in value sectors.

The New Zealand Dollar missed a beat after the RBNZ hit the pause button in its actioned packed hiking cycle. Will NZD/USD break the top end of the range?