The most important data to be released today and their impact on dollar movements

The US dollar fell during today's trading on Wednesday, and eyes will be on inflation data and the second half of Jerome Powell's testimony before the House of Representatives today.

In the first half of his testimony before the Senate yesterday, Powell said that he sees no rush to cut interest rates, that is, we have no hurry to cut interest rates, which pushed the yields of ten-year US Treasury bonds to rise by about four basis points.

Although Powell's remarks are hawkish, the dollar also fell yesterday against most major currencies.

As we are waiting for the US consumer price index today at 3:30 pm Egypt time, expectations indicate that core consumer inflation will rise slightly to 0.3%, from which the dollar may begin to climb again, while if the reading comes weaker it may fuel bets on interest rate cuts and force traders to abandon bets on the US dollar rising.

On the other hand, the European Union, Mexico and Canada condemned US President Donald Trump's decision to impose 25% tariffs on steel and aluminum imports, and European Commission President Ursula von der Leyen said there would be countermeasures.