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The IEA projects a 3.7 million bpd surplus in 2026 and cut its global Oil demand forecast. The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, remains in the positive territory for the third successive session and is trading near 97.00 during the Asian hours on Friday. Investors are now focused on the January Consumer Price Index (CPI) report from the United States. Headline inflation is forecast to ease to 2.5% from 2.7%, while core inflation is expected to slow to 2.5% from 2.6%. A softer print could give the Federal Reserve room to resume rate cuts after holding steady at its first meeting of the year. Markets are currently pricing in two Fed rate cuts in 2026, with the first likely in the second half of the year following stronger-than-expected January employment data. Still, uncertainty persists over potential adjustments to the Fed’s balance sheet ahead of Kevin Warsh’s anticipated appointment as Chair in May. Warsh has previously criticized asset purchases but recently signaled he may support coordination with the Treasury to help lower yields. Fed Governor Stephan Miran said on Friday that monetary policy has effectively tightened on its own, suggesting there is scope for lower interest rates. Miran added that inflation, once adjusted for distortions, is close to target and that some slack remains in the labor market, leaving room for policy support. The CME FedWatch tool suggests that financial markets are now pricing in nearly a 91% probability that the Fed will leave rates unchanged at its next meeting, up from 77% the previous week. US Dollar FAQs The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found…

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Filed under: News - @ February 13, 2026 3:17 am