NY foreign exchange market = dollar softening, PPI growth slows, pay attention to CPI the day after

8/14/2024 6:05 AM GMT+9 (some excerpts)

In the New York foreign exchange market, in addition to the dollar softening against the yen, it also depreciated against a basket of major currencies. The July Consumer Price Index (CPI) to be announced on the 14th is attracting attention in order to obtain clues surrounding the monetary policy of the US Federal Reserve (FRB).
The July wholesale price index (PPI, goods and services for final demand) announced by the Ministry of Labor on this day rose 0.1% from the previous month (seasonally adjusted) and 2.2% from the previous year, and both growth slowed from the previous month. It was shown that price pressure was moderating.
In response to this, the dollar weakened against the yen.