The ripple effects of President Trump's tariff policies are now evident in the U.S. economy, with consumer prices experiencing notable shifts.

Gold prices rose on Wednesday as investors digested data showing an increase in U.S. consumer prices last month and waited for further clarity on U.S. President Donald Trump's trade policy.

USD/JPY and AUD/USD move on trade talk progress, US PPI data, and Aussie housing trends. Policy paths in Japan, US, and Australia remain in sharp focus.

On a monthly basis, the headline CPI rose 0.3 percent, which was in line with forecasts. Core CPI rose 0.2 percent versus an expected 0.3 percent.

Gold rose on Wednesday, helped by a slight pullback in the dollar and bond yields, while investors digested data showing an increase in U.S. consumer prices last month and waited for further clarity on U.S. President Donald Trump’s trade policy.

The consumer price index, excluding the often volatile food and energy categories, increased 0.2% from May, according to Bureau of Labour Statistics data out Tuesday.

Most US and European share indices slid on Tuesday, as US inflation data indicated President Donald Trump's tariffs could be feeding into his country's economy.

Trump announced the pact with Indonesia, a relatively minor U.S. trading partner, as he continued to press for what he views as better terms with trading partners and ways to shrink a huge U.S. trade deficit.