The US major indices are trading lower in the aftermath of the US CPI data this morning.
A snapshot of the market currently shows:
- Dow Industrial Average -183.77 points or -0.54% at 34062.17
- S&P index -22.69 points or -0.55% at 4114.61
- NASDAQ index minus 83.53.2 -0.70% at 11808.26
- Russell 2000-16.15 points or -0.83% 1924.99
in the US debt market, the yields are moving higher helping to push stocks lower:
- two year yield 4.61% up 7.5 basis points
- five year yield 3.988% +6.3 basis points
- 10 year yield 3.745% +2.6 basis points
- 30 year yield 3.781% unchanged
The US dollar has moved back to the upside after up and down volatility after the report:
- EURUSD: The EURUSD had seen the pair moved down to the low of a swing area near 1.0707 (and below the 100 hour MA at 1.07193). Over the price has found support against that level currently trades at 1.0727. The topside today stalled near a swing area between 1.0799 and 1.0805. The 200 hour moving average is between at 1.07617
- USDJPY: The USDJPY is making a play to the upside and above the 50% of the move down from the December high. That midpoint level comes in at 132.689 and is now close intraday support. The price moved above the topside of a swing area near 132.902. The high price extended to 133.126. The current price is trading back down near 132.90. Going forward stay above the 50% midpoint keeps the buyers more control.
This article was originally published by Forexlive.com. Read the original article here.