Initial reaction sees rates lower/ the USD lower

The initial reaction to the CPI data is lower rates and lower dollar.

THe two year yield is trading down around -14.4 basis points to 3.914%. The 10 year yield is down 6.6 basis points to 3.368%.

In the forex Forex Forex, also known as foreign exchange or FX, is the buying and selling of one currency for another. The foreign exchange market is the largest financial market in the world, with an average daily trading volume of over $5 trillion. Forex trading can be done through a broker or market maker, and can be done online or over the phone. The vast majority of forex trading is done by businesses buying and selling products along with money managers hedging against currency risk. A portion of the forex m Forex, also known as foreign exchange or FX, is the buying and selling of one currency for another. The foreign exchange market is the largest financial market in the world, with an average daily trading volume of over $5 trillion. Forex trading can be done through a broker or market maker, and can be done online or over the phone. The vast majority of forex trading is done by businesses buying and selling products along with money managers hedging against currency risk. A portion of the forex m Read this Term,

• 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: The EURUSD has moved higher (lower USD). The price has moved above the swing high price from April 4 at 1.09728. The prices ticking toward 1.1000 which was the high price from February 1. On February 2, the high price reach 1.10317. That was the highest level going back to April 4, 2022

• USDJPY: The USDJPY has moved lower and is testing the 100 hour moving average at 132.72. Below that is the 200 hour moving average at 132.508. The price is bouncing off the level and currently trades at 132.93. The swing low from yesterday reached 132.96. That level is a close resistance followed by the 100 day MA up at 133.325.

In the premarket for US stocks, major indices or higher:

• Dow Industrial Average up 181 points
• S&P index up 27.25 points
• NASDAQ index up 114 points