The USD moved lower and backed off after CPI. Stocks a bit higher.

The initial reaction after the US CPI data was toward a lower dollar, but we are seeing a rotation back higher. Prices are back near premarket levels currently. US stocks moved to the upside. The futures are now implying:

• Dow up 86 points
• S&P index of 24 points
• NASDAQ index up 122 points

Owners equivalent rent rose by 0.2% which is a slowdown. Used car prices were higher however as was food at home.

US yields are lower:

• 2 year 4.138%, -1.0 basis points
• 5-year 4.091%, -0.6 basis points
• 10 year 4.226%, +0.5 basis points.
• 30 year 4.426%, +2.0 basis points.

In commodities:

• Crude oil is up $0.79 and $69.37
• Gold is up five dollars at $2698.40
• Bitcoin is up $2120 at $98,768

This article was written by Greg Michalowski at www.forexlive.com.