US CPI Rises in Line with Expectations in July

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The CPI data coming in line with expectations did not create a surprise effect on the market, so it is far from being a short-term directional driver. The index is slightly below the 20-day moving average and above the 50-day average, indicating a sideways trend. The RSI is in neutral territory at 49, while the MACD remains below its signal line, suggesting weak momentum. Since the news did not create inflationary pressure, the index is expected to stay within its current narrow band. However, minor fluctuations that may occur after the data release could be limited, depending on investors' risk appetite.

The CPI data coming in line with expectations has not created a surprise effect in the market, so it is not having a significant directional impact on the DXY. On the technical indicators, the RSI is at 37, indicating a weak zone but not oversold, while the MACD is below the signal line and momentum is negative. The price is trading just below the 20-day and 50-day moving averages, suggesting short-term pressure. However, since the data's alignment with expectations provides no new clues about the Fed's policy path, a sharp move in the dollar index is not anticipated. For the next 1-3 days, a sideways trend and consolidation within the 99.7-99.9 range are highly likely.