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The USD is modestly higher, US yields are higher and stocks are higher ahead of CPI | investingLive

The US dollar is higher, the US yields are higher and the US stocks are higher ahead of the US CPI data. The month-on-month headline number and the core measure for CPI are both expected to show 0.3% rises. With the year on year measures expected at 2.9% versus 2.7% last month, and the core at 3.1% unchanged from last month. US initial jobs claims are expected to remain fairly steady at 235K versus 237K estimate.

The rise in the dollar is modest versus the euro at 0.09%. It is more pronounced versus the JPY at 0.34% and the GBP at 0.15%. In the video above, I take a look at the technicals that are driving those currency pairs given the moves to the upside in traded here today. What are the technical bias, the target and the risk defining levels? Be aware be prepared.

The ECB rate decision will take place at 8:15 AM this morning. There is not a lot of anxiety given the expectations for unchanged policy. The board is split in the comments about future policy action. The ECB has lowered the main financing rate from 4.5% to the current 2.15%.

The EURUSD is below its 200-hour moving average at 1.1693. Stay below moving average keeps the technical bias, more to the downside.

Looking at the US debt market to start the North American session, yields are higher by about 2 basis points across the curve:

  • 2-year yield 3.554%, +2.1 basis points
  • 5 year yield 3.602%, +2.0 basis points
  • 10 year yield 4.051%, +1.9 basis points
  • 30 year yield 4.698%, +2.2 basis points

In the premarket for the US stock stocks, both the S&P and NASDAQ index are higher implying yet another record close for the day. Yesterday, both as indices closed at record levels.

  • Dow industrial average is up 84 points
  • S&P index is up 14.71 point
  • NASDAQ index is up 71 points

in other markets

  • Crude oil is trading down $0.68 at $63
  • Gold prices are lower by $-21 at $3619.87. Yesterday the price closed at a new record at $3657.58
  • Silver is down $0.09 at $41.02.
  • Bitcoin is trading up $290 at $114,277