Forex Today: US inflation and the size of the Fed’s rate cut

Source Fxstreet

The Greenback added to the ongoing uptrend, although it seems to have run out of some upside impetus on Tuesday amidst the broad-based cautious stance ahead of the release of key US CPI readings on Wednesday.

Here is what you need to know on Wednesday, September 11:

The US Dollar Index (DXY) managed well to maintain business in the upper end of the range near 101.70 prior to key data releases on Wednesday. The release of the Inflation Rate tracked by the CPI will be the salient event on September 11, seconded by the weekly MBA Mortgage Applications, and the EIA’s weekly report on crude oil inventories.

EUR/USD could not help retreating for the third consecutive day, approaching the key support area near 1.1000. The next risk event in the euro area will be the ECB’s interest rate decision on September 12.

GBP/USD alternated gains with losses within a tight range against the backdrop of the generalized prudent tone in the FX universe. On September 11, the UK docket will feature GDP figures, Balance of Trade results, Construction Output, Industrial and Manufacturing Production, and the NIESR Monthly GDP Tracker.

USD/JPY resumed its downtrend and broke below the 143.00 support, shifting its attention to recent lows in the sub-142.00 region. The BoJ’s Nakagawa is due to speak on September 11.

AUD/USD retreated for the third consecutive day, although it seems to have met some decent contention in the 0.6650-0.6640 band for the time being. Consumer Inflation Expectations and the speech by the RBA’s Hunter are expected on September 11.

Persistent demand concerns and a disheartening OPEC report sent WTI prices to the vicinity of the $65.00 mark per barrel for the first time since early May 2023.

Prices of Gold added to Monday’s uptick amidst marginal gains in the greenback and declining US yields prior to the release of the US CPI on Wednesday. Silver prices posted humble losses around the $28.30 zone following an earlier uptick to two-day highs.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Today’s Market Recap: U.S. Stocks Rebound as Nasdaq Gains 1.11%, Memory Chip Stocks Rally, SanDisk Jumps 5.5%U.S. stocks rebounded on Monday, October 19, following a sharp sell-off in AI infrastructure stocks last week, lifting the Nasdaq Composite and S&P 500.At the clo
Author  TradingKey
Yesterday 01: 25
U.S. stocks rebounded on Monday, October 19, following a sharp sell-off in AI infrastructure stocks last week, lifting the Nasdaq Composite and S&P 500.At the clo
placeholder
Dollar presses 102 as the 10-year yield sits at 5.14% — and October hike odds are only 17%The dollar index closed at 101.99 (+0.20%) on Monday after briefly topping 102.07, while the 10-year Treasury yield rose to 5.14% and the 2-year hit 4.774% — yet futures price only about a 17% chance of a hike at the October 27-28 FOMC, versus roughly 90% for December. The driver is a global bond selloff, not a Fed repricing: France's 10-year OAT jumped to 4.84% ~ 4.94% and the OAT-Bund spread widened to 140 ~ 146bp. Here are the levels, the cross-asset read-through and what to watch.
Author  Irene Q.
Yesterday 05: 50
The dollar index closed at 101.99 (+0.20%) on Monday after briefly topping 102.07, while the 10-year Treasury yield rose to 5.14% and the 2-year hit 4.774% — yet futures price only about a 17% chance of a hike at the October 27-28 FOMC, versus roughly 90% for December. The driver is a global bond selloff, not a Fed repricing: France's 10-year OAT jumped to 4.84% ~ 4.94% and the OAT-Bund spread widened to 140 ~ 146bp. Here are the levels, the cross-asset read-through and what to watch.
placeholder
Netflix earnings land tonight: the $70 line that decides whether the AI rebound has legsNetflix reports Q3 after the US close on October 20 with the stock at $69.85 (-0.96%), just below the $70 round number and far from its 52-week high of $124.86. Consensus looks for revenue near $12.87bn (+12%), EPS around $0.82 and a 33.2% operating margin, while options imply an 8.4% one-day move. With the Nasdaq up 1.11% and the SOX up 1.61% after an eight-day slide, the result is the first real test of the AI-led rebound. Here are the numbers, the $65 / $70 / $75 levels and the three checks that matter.
Author  Irene Q.
Yesterday 06: 25
Netflix reports Q3 after the US close on October 20 with the stock at $69.85 (-0.96%), just below the $70 round number and far from its 52-week high of $124.86. Consensus looks for revenue near $12.87bn (+12%), EPS around $0.82 and a 33.2% operating margin, while options imply an 8.4% one-day move. With the Nasdaq up 1.11% and the SOX up 1.61% after an eight-day slide, the result is the first real test of the AI-led rebound. Here are the numbers, the $65 / $70 / $75 levels and the three checks that matter.
placeholder
Tesla Q3 Earnings Preview: Can Auto Margins Stabilize? Wall Street’s Highest Price Target at $550Tesla (TSLA) will report its third-quarter 2026 financial results after the U.S. stock market close on October 21, Eastern Time, and host an earnings conference call at 17:30 that day. Th
Author  TradingKey
21 hours ago
Tesla (TSLA) will report its third-quarter 2026 financial results after the U.S. stock market close on October 21, Eastern Time, and host an earnings conference call at 17:30 that day. Th
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 21, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 21, 2026. Read on for the details.
Author  Mitrade
5 hours ago
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 21, 2026. Read on for the details.
goTop
quote