Dollar dips after tame PPI data

The market’s reaction to the tame US United for December shows:

  • USD lower
  • Stocks higher
  • Yields lower.

IN the forex:

  • The USDJPY is back down toward its 100-day moving average of 144.87. Earlier today, the price, the price moved back down toward that 100-day moving average only to find buyers. This is the third look at that moving average.
  • The EURUSD has extended back above its 100 and 200 hour moving averages after moving below the moving images in the European session. The price action in the EURUSD has been up and down in training this week. The high price from yesterday stole the NCI press from last Friday’s employment day. The price action has been above and below the 100 and 200 hour moving averages.

Looking at the US debt market, yields are now lower on day at least in the short term:

  • 2 year yield 4.190% -7.0 basis points
  • 5-year yield 3.854% -3.8 basis points
  • 10 year yield 3.965% -1.0 basis points
  • 30 year yield 4.201% +2.1 basis points

Looking at the premarket for US stocks, the futures are implying:

  • Dow Industrial Average -84 points
  • S&P index is up 1.0 points
  • NASDAQ index is up 7.10 points

Stock levels were much lower earlier in the premarket session.

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