Market Awaits US Dollar, Rate Catalysts; ISM, CPI Data in Focus This Week and Next

USDJPY0.28%
According to a research report from Mitsubishi UFJ Bank as reported by Jin10 on July 6, the market is in a holding pattern awaiting the next catalyst for the US dollar and interest rates. Key data releases this week include the US ISM Services PMI and Federal Reserve meeting minutes, followed by US CPI data next week, which global markets will use to determine direction. Additionally, uncertainty surrounds whether Japanese authorities intervened in the currency market last week to curb yen weakness, adding risk as USD/JPY continues hovering near the 162 level.
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