US dollar moves higher after CPI. Stocks dip. Yields up modestly

After the higher-than-expected core CPI (0.4% versus 0.3%,, the US dollar initially moved higher. US jobs have given up some other gains versus the broad indices. The NASDAQ is still up 56 points. The S&P is still up 5.81 points. The two-year note has moved up about one basis point while the 10-year has moved up about two or three basis points.

Markets are moving but some of those changes are already being fully erased.

Owners equivalent rent came down to +0.4% from +0.6%. Food was unchanged. Gasoline moved higher as did used cars and airline fares

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