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European Stocks Flat as Oil Prices Rise, US CPI in Focus 
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Most Asian currencies traded in a narrow range on Thursday as investors assessed the Federal Reserve’s interest rate outlook following U.S. inflation data that largely matched market expectations.
The U.S. Dollar Index was little changed at 99.99 in early Asian trading after gaining about 0.2% in the previous session. The dollar remained supported despite inflation figures reducing expectations for another Federal Reserve rate increase in September.
U.S. consumer prices increased 0.1% in July, in line with economists’ forecasts. Annual inflation eased to 3.4% from 3.5% in June, while core CPI climbed 0.2% from the previous month and 2.5% year-on-year.
Following the report, market expectations for a September Fed rate hike fell to around 40%, compared with 54% before the data. MUFG analysts said the inflation figures could give the Federal Open Market Committee room to keep rates unchanged for now, although the report may not be enough to significantly alter policymakers’ positions.
Investors are now awaiting U.S. producer price and retail sales data for additional signals on the Fed’s monetary policy outlook.
The Japanese yen remained under pressure, with USD/JPY trading near a two-week high around 159.43. Currency markets remain alert after Tokyo and Washington confirmed coordinated yen-buying intervention earlier this month aimed at stemming the yen’s decline to 40-year lows.
Geopolitical tensions also remained in focus after Iran reported no progress toward restoring an interim peace agreement with the United States. Disagreements over commitments related to a key shipping route have kept uncertainty elevated.
Brent crude oil traded near $89 per barrel, fueling concerns that higher energy costs could increase imported inflation across Asian economies.
Elsewhere, USD/KRW edged 0.1% higher, while USD/SGD and USD/CNY were largely unchanged. USD/INR gained about 0.1%, while the Australian dollar weakened, with AUD/USD falling approximately 0.2%.
