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USD: Greenback Holding Gains Post Firm US Core CPI Data

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  • Greenback only moderately higher across the board as the initial reaction to above consensus core CPI provides some dollar relief and tilts the USD index briefly back into positive territory on the session.
  • The continued sensitivity of the Japanese Yen to US data points and volatility for US yields provides upward impetus for USDJPY which spikes back above 142.00, extending the intra-day recovery to approach the overnight highs at 142.47. Above here, resistance is not seen until 143.71, the Sep 9 high.
  • EURUSD through the overnight lows at typing. The move lower this week resulted in a breach of the 20-day EMA and a move through support at 1.1026, the Sep 3 low. A clear break of this level would signal scope for a deeper correction towards the 50-day EMA, at 1.0979.
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  • Greenback only moderately higher across the board as the initial reaction to above consensus core CPI provides some dollar relief and tilts the USD index briefly back into positive territory on the session.
  • The continued sensitivity of the Japanese Yen to US data points and volatility for US yields provides upward impetus for USDJPY which spikes back above 142.00, extending the intra-day recovery to approach the overnight highs at 142.47. Above here, resistance is not seen until 143.71, the Sep 9 high.
  • EURUSD through the overnight lows at typing. The move lower this week resulted in a breach of the 20-day EMA and a move through support at 1.1026, the Sep 3 low. A clear break of this level would signal scope for a deeper correction towards the 50-day EMA, at 1.0979.