US Inflation Data Looms Wednesday as Fed Rate Decision Awaited

The July 2026 US inflation data is due on Wednesday, August 12, 2026, and investors and institutions will look for clues on the Federal Reserve’s potential stance after the CPI figures are released. The Producer Price Index (PPI) numbers will follow a day later, on Thursday.

The US dollar fell to a two-month low on Monday, while gold saw a rise. The US economy also shed jobs in July, compared to gains in May and June of this year. Falling inflation figures in June and the dip in July may lead to a rate dip from the Federal Reserve if CPI comes in lower than expected this week.

According to Tim Waterer, chief market analyst at KCM Trade, “The weak U.S. jobs data reduced fears of an imminent rate hike and gave the metal a spark. This looks like a natural stabilization – I expect gold to remain supported above the $4,300 level in the near term.” He added that soft readings would strengthen the case for a rate hold and clear a path for further upside in gold.

There are, however, some risks. The US-Iran war caused a spike in oil prices last month, directly impacting inflation numbers. President Trump also went on another tariff spree which could negatively impact inflation figures, meaning a rate hike could still occur later this year if inflation surprises to the upside.

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