The major US indices are opening higher, but early trading has seen the indices dip back into negative territory as the market digests the CPI data. Headline CPI fell by -0.1%. The core ex food and energy rose by 0.3%.

A snapshot of the market three minutes into the opening is showing:

US yields are lower in anticipation of a 25 basis point hike at the next Fed meeting:

  • two year yield 4.147% -7.3 basis points
  • five year yield 3.577% -8.3 basis points
  • 10 year yield 3.497% -4.8 basis points
  • 30 year yield 3.647% -2.8 basis points

The US treasury auction or 30 year bonds at 1 PM ET. The three and 10 year note auctions on Tuesday and Wednesday were well received especially from foreign investors.

In other markets:

  • spot gold is trading up $15.69 or 0.83% at $1890.55
  • spot silver is trading up $0.44 or 1.86% at $23.87
  • WTI crude oil is trading up $1.25 at $78.90
  • bitcoin is above 18,000 at $18,072. The high price reached $18,370. The low price was at $17,911

In the Forex market, the dollar index (DXY) is down -0.52%. It is trading at the lowest level going back to June 9, 2022. Looking at the daily chart, the price low approach the 50% midpoint 102.17. The low price reached 102.32. The current prices at 102.69.

DXY
The DXY moved down to test the 50% midpoint at 102.17