The market is steady/doing better through the CPI shock
The CPI showed a higher than expected rise of 0.4% for core inflation versus 0.3% expected. The headline number was up 0.6% as expected. The YoY for core was higher-than-expected had 2.8% versus 2.7%.
The US yields have actually dipped a bit vs pre CPI levels. The two year yield is at 3.962%, up 1.5 basis points. The 10 year is up 1.1 basis points at 4.422%.
US stocks in premarket trading are a little bit better but still lower on the day with the NASDAQ down -208 points and the S&P down -20 points.
Looking at the US dollar, the EURUSD retested it's a 200 hour moving average at 1.1736, but is trading backup at 1.1745 currently. The price remains between its 100 hour moving average above at 1.17587, and it's 200 hour moving average below at 1.1736. Traders will be looking for a break with momentum.
The USDJPY continues to trade above the 200 day MA at 157.36 and is trying to hold support above the 38.2% of teh move up from the February 12 low at 157.496. The upside target remains between 157.97 and 158.26. Rallies have been met with threat of intervention which could keep sellers in play. Watch 100 day MA and below that the 200 hour MA at 156.99 and below that the 100 hour MA at 156.80.
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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