Which
The CHF is the strongest and the USD is the weakest as the North American session begins. It will be all about the CPI data which will released at 8:30 AM with expectations for the headline number to rise by 0.2%. The core measure for the month is expected to rise by 0.5%. The YoYs are expected to show a dip to 8.7% from 9.1% for the headline and a rise to 6.1% from 5.9% for the core. Late yesterday, Fed's Bullard an interview with MNI said:
If the numbers come in as expected, the market reaction will be interesting to see. The markets have had a more "loving feeling" of late (although there was some cracks in the Nasdaq yesterday) with yields off highs, the dollar lower, stocks higher, and that has come in the face of Fed comments that are more hawkish and a a jobs report whch was strong. Watch the technical levels for clues.
In other markets:
- spot gold is down $-0.91 or -0.05% at $1792.87.
- Spot silver is unchanged at $20.50
- WTI crude oil is trading down $-1.30 at $89.20. The private data of inventories late yesterday showed modest builds above expectations (see below)
- The price of bitcoin is trading marginally lower lower at $23,151
In the premarket for US stocks, the major indices are up after yesterdays declines:
- Dow industrial average is up 100 points after yesterdays -58.13 point decline
- S&P index is up 15.75 points after yesterdays -17.57 point decline
- NASDAQ index is up 63 points after yesterdays -150.53 point decline
In the European equity markets, the major indices are trading marginally higher after yesterdays decline:
- German DAX, +52.43 points or +0.42%
- France's CAC +2 points or +0.03%
- UK's FTSE 100 +7.6 points or +0.10%
- Spain's Ibex +3.28 points or +0.04%
- Italy's FTSE MIB +24.43 points or +0.11%
In the US debt market, yields are little changed:
In the European debt market, the benchmark 10 year yields are mixed:
