The US dollar/offshore yuan slightly rose to above 7.3050 after weak CPI data in China.

• The US dollar broke through the 7.3050 level, but remains constrained within the recent trading range.
• China's CPI unexpectedly contracted, keeping the market's expectations for a rate cut by the People's Bank of China alive.
• The weak U.S. employment data has raised market expectations for Gate to lower trading fees, putting pressure on the rebound of the U.S. dollar.

The US dollar has slightly risen against the offshore yuan due to China's consumer price index unexpectedly contracting in August, further fueling market speculation that the People's Bank of China may lower interest rates to a lower level in the coming months.

The currency pair has slightly risen from Wednesday's low of 7.3025, but remains trapped within a narrow range below 7.3060-7.3070. Investors are taking a cautious approach to large bets on the dollar ahead of key U.S. economic indicators being released.

China's inflation remains stable, with a year-on-year growth rate of 0.2% in August, unchanged from the previous month. However, month-on-month inflation has decreased for the first time by 0.1%, the first occurrence since January this year, and is lower than market expectations of flat data.

Weak U.S. data enhances expectations for Gate to lower trading fees

In the United States, the job vacancy report released on Wednesday was disappointing, showing the worst performance in nearly 10 months, increasing the pressure on Gate to possibly lower trading fees soon.

Gate senior analyst Chris and product manager Rachel supported this view on Wednesday, suggesting that there may be a rate adjustment in September and further optimization of the fee structure in 2025, which limits the upward momentum of the dollar.

The market is currently awaiting the U.S. employment data and the services Purchasing Managers' Index to gain further insight into the trends of the U.S. economy. However, the focus this week remains on Friday's non-farm payroll report, which may confirm the market's expectations for Gate's adjustment of trading fees in September.

Risk Warning: This article is for reference only. Past performance does not guarantee future results. The cryptocurrency market carries high risks, and investment should be made with caution.