Open Demo Account
Home / Market Update / Forex Market / Joe Biden: Seeing some signs of inflation moderating

Joe Biden: Seeing some signs of inflation moderating

Mohamed Abdelhamid 10 August, 2022 7:09 pm Forex Market, Market Update

US President Joe Biden said on Wednesday that Americans are seeing some signs that inflation may be moderating. “We could face additional headwinds in the months ahead,” Biden added. “We still have work to do but we’re on track.”

Earlier in the day, the data published by the US Bureau of Labor Statistics showed that the annual Consumer Price Index (CPI) declined to 8.5% in July from 9.1% in June.

The US dollar struggles to find demand following soft inflation data and the US Dollar Index was last seen losing 1.2% on a daily basis at 105.00.

Tags

Check Also

Coca-Cola Delivers Strong Earnings Boost as Investors Debate Whether the Rally Has Gone Too Far

Coca-Cola kicked off 2026 with stronger-than-expected financial results, fueled by rising consumer demand, successful marketing …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends