US CPI provides the latest catalyst for FX markets, stymying the recent countertrend move. EUR/USD heads lower as does EUR/GBP

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US inflation data backed up the Fed rhetoric of higher for longer but a potential rate hike at the November meeting remains a mystery. In the words of Policymakers more data will be needed to gauge progress ahead of next month’s FOMC meeting.

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Bitcoin (BTC) is struggling in what should be a beneficial environment as markets continue to price in no further US monetary policy tightening

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ndices continue to rally overall, but some signs of weakness have emerged the CAC40, while the Dow and Nasdaq 100 still look to have further bullish momentum behind them.

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USD/JPY looks to US CPI for help in terms of the Fed’s interest rate cycle moving forward, while Yen bulls keep a close eye on the 150 resistance level.

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