The USD moves higher after the hotter CPI data

The markets are on the move after the stronger than expected CPI data which saw the year on year number move up to 7.5%. The core reading touched 6% versus 5.9% expected. That's up from 5.5%

• The expectations for a 50 basis point increase in March has moved above 53% in the initial reaction from about 30% before the release.
• US stocks of move down with the Dow now down -165 points. The NASDAQ is down about -225 points. The S&P is lower by -45 points
• crude oil is trading up $0.35 at $90.13
• Bitcoin is trading at $43,800 that's down from earlier levels above $44,000

In the US debt market, the

• two year yield is at 1.442% up 8.4 basis points (high yield reached 1.456%)
• 10 year yields are trading at 1.989% up five basis points (high yield reached 1.989%)
• 30 year yields are trading at 2.28% up 3.3 basis points (high yield reached 2.385%).

The US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term has moved higher with the:

• EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term breaking to a new week a low below the 1.1400 levelto a low of 1.13847. there has been a reactionary take back higher with the index trading at 1.1406 currently. The 100 day moving averages at 1.14164and is resistance on the topside.

• GBPUSD has moved below its 200 hour moving average at 1.35323. The 100 hour moving averages is at 1.15401. Stay below those levels is more bearish. On the downside, the 100 day moving average comes in at 1.3505. That would be a target on further selling pressure

• USDJPY is moving to a new high going back to January 5 at 116.14. The high going back to January 5 was at 1.16.178. The high for the year comes in at 116.347. Those are targets on further upside momentum. If those levels can hold could see a corrective move to the downside. The pre-CPI high came in at 115.87. That will be eyed as support in the short term now.

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