The USD has moved sharply lower. Stocks are sharply higher. Yields are lower after the US CPI data.

Premarket levels for US stocks:

  • Dow industrial average up 842 points
  • S&P index up 111 points
  • NASDAQ index up 400 points

in the US debt market

  • 2 year yield down 22 basis points
  • 5 year yield down 23 basis points
  • 10 year yield down 20 basis points
  • 30 year yield down 11 basis points

Gold is up $25 at $1732 and above its 100 day moving average at $1714.

In the forex market:

EURUSD moves to key swing area
USDJPY falls below a swing area and 6120% retracement
  • GBPUSD: The GBPUSD is above the downward sloping trend line and other swing areas. The high from a few weeks ago comes in at 1.16355. The 100 day moving averages at 1.16607. A break above the 100 day moving average would be the 1st since March 24, 2022. Key level.
GBPUSD moves toward 100 day MA

For the S&P, the key level on the topside comes in at 3900. That is home to the 100 day MA. The price closed at 3748.56. The premarket implies a gain of 113 points. Back of the envelope has the price up to 3861 within 39 pips of that key MA level. Be aware.

S&P 100 day MA at 3900. Key level on the topside

The major mega cap FAANG stocks (which are not so mega cap) are all higher:

F him him himAANG