US core CPI report
US core CPI y/y

Headline CPI:

  • Prior was +2.4% y/y
  • Current y/y is +2.6%
  • m/m reading at +0.2% vs +0.2% expected
  • Month-over-month unrounded 0.2441 vs 0.1799% prior

Core measures:

  • Core CPI +3.3% vs +3.3% expected
  • Core CPI m/m +0.3% vs +0.3% expected
  • Core unrounded +0.2800% vs +0.3124% m/m prior
  • Real weekly earnings +0.1% vs -0.1% prior (prior revised to +0.1%)
  • Core services ex shelter +0.3% vs +0.554% prior
  • Core-CPI services ex-rent/OER +0.2% vs +0.404% prior

The market found enough in this report to sell the US dollar. The unrounded core number and core services ex-housing are the likely catalysts and the dollar is down around 20 pips.