The USD moved lower after the US CPI data. The CPI showed a headline increase of 0.1% for the headline and 0.4% for the core. The Shelter costs continue to elevate the core measure (accounts for 1/3 of CPI data). It increased by 0.6%. Traders and analysts continue to look for lower shelter costs to start to kick in.
Nevertheless, the numbers has lowered yields and pushed up stock prices. The USD has moved lower.
In this video, I take a technical look at the EURUSD, USDJPY and GBPUSD. Below are the start times for the analysis. The time prior outlines the CPI release details.
- CPI details to 2:28
- EURUSD. 2:28
- USDJPY 4:24
- GBPUSD 6:29