The Dow Jones Industrial Average trades near 53,700 on Thursday, roughly 75 points and a tenth of a percent lower, on a morning when the S&P 500 prints a fresh record intraday high and the Nasdaq Composite runs close to a percent higher.

Rabobank's Senior FX Strategist Jane Foley analyzes the US Dollar’s (USD) evolving relationship with Oil and its safe haven role.

DBS Group Research economist Philip Wee notes that softer US CPI and labour data kept DXY locked in a 99.4–100.1 range after the USD/JPY sell-off linked to joint US-Japan interventions. Markets sharply reduced the implied probability of a September Federal Reserve hike.

Lee Hardman at MUFG reports that the US Dollar’s initial post-CPI weakness quickly reversed, with the dollar index returning to around 100.00 as markets trimmed but did not abandon expectations for a September Fed hike.

ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note that the Dollar strengthened after an in-line US CPI, as markets had positioned for a hotter print.

Dow Jones futures gain 0.08% to trade around 53,910 during European hours on Thursday. Meanwhile, S&P 500 futures rise by 0.09% to trade around 7,780 and Nasdaq 100 futures advance 0.06%, trading near 29,870.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, is seen building on the previous day's sold bounce from the post-CPI swing low and prolonging its weekly uptrend for the fourth straight day.

BNY’s Geoff Yu argues that the July Fed meeting marked a peak in Dollar dehedging rather than an end to U.S. exceptionalism. Cross-border investors are rebuilding USD hedges, reducing effective unhedged U.S. exposure while maintaining broadly solid underlying demand for U.S. assets.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, continues its struggle to build on the momentum beyond the 100.00 psychological mark and edges lower during the Asian session on Thursday.

The July Consumer Price Index (CPI) landed at 12:30 GMT on every line the consensus had written for it, and the Dow Jones Industrial Average has spent the hours since handing back the few minutes of enthusiasm that followed.

TD Securities strategists note that July US inflation came in broadly in line with expectations, with headline CPI rising 0.1% m/m and core CPI increasing 0.2% m/m.

United States (US) President Donald Trump used a post on Truth Social to declare that the US has "total control" over the Strait of Hormuz on Wednesday., Trump boasted about the American naval presence near the Persian Gulf, which he described as "a wall of steel".

ING’s Chris Turner expects US July CPI to be the key driver for the Federal Reserve’s next move, with consensus looking for subdued headline and core readings that edge closer to the 2% target.

The US Dollar (USD) reflects a sideways performance against its peers ahead of the United States (US) Consumer Price Index (CPI) data is scheduled to be published at 12:30 GMT.

Commerzbank FX analyst Antje Praefcke notes that July US inflation is expected to rise only 0.1% month-on-month, with headline and core rates slipping to 3.4% and 2.5% year-on-year.

Brown Brothers Harriman’s (BBH) Elias Haddad notes markets are steady ahead of the United States (US) July Consumer Price Index (CPI) release, which is seen as pivotal for Fed funds expectations and the Dollar.

OCBC’s Sim Moh Siong and Christopher Wong highlight that the US Dollar (USD) stayed mixed as markets waited for the key United States (US) Consumer Price Index (CPI) release, with Middle East tensions and hawkish Federal Reserve (Fed) rhetoric offsetting each other.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, retains a positive bias for the third straight day on Wednesday, though it lacks bullish conviction.

Dow Jones futures are steady around 53,890 during European hours on Wednesday. Meanwhile, S&P 500 futures gain by 0.18% to trade around 7,760 and Nasdaq 100 futures rise 0.48%, trading near 29,770.

Commerzbank analysts highlight cautious positioning in the Dollar ahead of July US CPI, with the Dollar Index steady near 99.83 and EUR/USD around 1.1540.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending gains for the third successive day and trading around 99.90 during the Asian hours on Wednesday.

Tuesday gives the Dollar Index a session with almost nothing in it.

The Dow Jones Industrial Average broke the three-session coil that had pinned it beneath its record, traded up through 54,200, and has since surrendered the entire move.

OCBC’s Sim Moh Siong and Christopher Wong note the US Dollar (USD) softened as Fed hike expectations moderated and the US yield curve steepened.

The US Dollar Index (DXY) appreciates for the second consecutive day on Tuesday, favoured by a mix of concerns about the stalled US-Iran negotiations and hawkish Fed speak, which keeps hopes of a September rate hike alive.

ING’s Chris Turner notes that FX volatility is falling as investors appear comfortable with the Federal Reserve holding or potentially tightening rates in September.

Dow Jones futures decline by 0.11% to trade around 54,000 during European hours on Tuesday. Meanwhile, S&P 500 futures are steady around 7,770 and Nasdaq 100 futures gain 0.12%, trading near 29,770.

The US Dollar (USD) extends its Monday recovery move on Tuesday, as rising Oil prices due to prolonged fears of energy supply disruption keep global inflation expectations de-anchored.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on the previous day's positive move and oscillates in a range during the Asian session on Tuesday.

The US Dollar (USD) traded broadly firmer on Monday, with the US Dollar Index (DXY) up around 0.2% and holding just above 99.80 as Oil surged more than 6% on the ongoing Strait of Hormuz standoff.