The US major indices are trading mixed in early trading after the higher-than-expected CPI data. The prices are well off the implied lows from the futures in premarket trading, but also off the premarket highs seen overnight.

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

In other markets as US stock trading gets underway:

  • Spot gold is up $10.72 or 0.57% $1847.92
  • Spot silver is up $0.48 or 2.27% at $21.72
  • WTI crude oil is trading sharply higher by $4.61 at $104.43
  • The price of bitcoin is back below the $30,000 level at $29,496. At 5 PM yesterday was trading around $31,062.

In the US debt market, yields are higher but there are off there highest levels:

  • 2 year 2.686%, +6.1 basis points
  • 5 year 2.962%, +4.5 basis points
  • 10 year 3.028%, +3.6 basis points
  • 30 year 3.171%, +4.3 basis points

The US treasury will auction off 10 year bonds at 1 PM ET today. They will auction off 30 year bonds tomorrow also at 1 PM ET..

In the forex market, the run higher in the USD is seeing a move back to the downside in an interesting twist. The NZDUSD is trading at a new high. The AUDUSD has retraced it's post CPI decline and retests it 100 hour MA at 0.7020. The low reached 0.6927. The EURUSD is back above its 100/200 hour MAs at 1.05425 and the GBPUSD is also back above it 100 hour MA at 1.2336.

Forex
The dollar moves back lower after run higher reverses