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US July CPI Preview: Inflation data unlikely to change Fed tapering expectations

Annual CPI inflation is expected to decline slightly in July. Fed is unlikely to renounce hawkish policy shift on single CPI print. EUR/USD could target fresh 2021 lows amid broad-based USD strength.   Inflation in the United States, as measured by the Consumer Price Index (CPI), is expected to edge lower to 5.3% on a yearly basis in July from the 13-year-high registered at 5.4% in June. The annual Core CPI, which excludes volatile food and energy prices, is forecast

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