Inflation On Watch All eyes are on the US Dollar today as traders await the June CPI print this afternoon. On the numbers front, the market is looking for headlines annualised CPI to cool to 3.8% from 4.2% prior with core CPI also expected to soften to 2.8% from 2.9% prior. There has been plenty of focus on the inflation outlook and Fed tightening expectations amidst the recent drop in oil prices, with some players arguing that traders have turned too aggressively hawkish in their Fed outlook. Current market pricing for a hike by year end is around 90%. As such, there is plenty of room for a dovish repricing if ... (full story)