We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Vaccine hopes, a Franco-German recovery package proposal, and a Fed that is committed to provide further liquidity has taken some of the shine off the safe-haven US Dollar.Get your market update from @JMcQueenFX here:https://t.co/GeN07sifc0 https://t.co/r8RTJC8bBG
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRdY06p https://t.co/3XSyQQShxq
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/rpZihwpSS1
  • Gold Prices Echo US Dollar Drop as Market Mood Improves - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/05/26/Gold-Prices-Echo-US-Dollar-Drop-as-Market-Mood-Improves.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #gold #xauusd #CrudeOil #OOTT
  • EU ready to drop maximalist approach to fisheries negotiations with the UK in the next round of Brexit talks (June 1st-5th), according to sources
  • USDMXN leaning on 50% Fib retracement - lower highs and lower lows still dominant. #usdmxn #mexicanpeso @DailyFXTeam https://t.co/GzYTHx7trp
  • $AUDUSD: empuje alcista en medio de dos fuerzas oponentes #aud #usd #trading https://t.co/jsKHvIOLK7
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.65%, while traders in US 500 are at opposite extremes with 75.34%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/GoPpkxvdpw
  • Heads Up:🇵🇱 Unemployment Rate due at 08:00 GMT (15min) Expected: 5.7% Previous: 5.4% https://www.dailyfx.com/economic-calendar#2020-05-26
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.87% Silver: 1.45% Gold: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/D211ny6ORL
US Dollar Rally Pauses as November CPI Falls in Line with Expectations

US Dollar Rally Pauses as November CPI Falls in Line with Expectations

2016-12-15 14:20:00
Omar Habib,
Share:

Talking Points:

- Headline consumer prices reached their highest level in over two years.

- Inflation rose but not dramatically, despite spikes in Consumer Confidence..

- USD/JPY slightly lower on the data.

The US Consumer Price Index (CPI) rose +1.7% (y/y) in November, driven by a +0.2% monthly gain. The yearly gain matched expectations of +1.7% and beat the previous reading of +1.6% (y/y). Core prices, excluding food and energy, rose +2.1% (y/y), driven by a +0.2% monthly gain. The core yearly gain missed expectations of +2.2% annually, but matched the previous reading of +2.1%.

Continued strength in CPI inflation, possibly driven by the jumps in Consumer Confidence seen recently, likely signals continued consumer strength in the US, which is vital to the health of the US economy as consumption accounts for approximately 70% of GDP. It is especially encouraging to see Headline CPI continue to track higher, as the +1.7% gain in Headline CPI is the largest since October 2014.

Other data out this morning included the Philadelphia Fed Index, which came in at a strong 21.5, vs 9.1 expected and 7.6 previously. US Empire Manufacturing was at 9.0, vs 4.0 expected and 1.5 previously. US Weekly Jobless Claims came in better than expected at 254k, versus 255k expected and 258k previously.

See the DailyFX Webinar Calendar for upcoming live event coverage

Chart 1: USD/JPY Index 1-minute Timeframe (December 15, 2016 Intraday)

US Dollar Rally Pauses as November CPI Falls in Line with Expectations

Immediately following the news, the USD/JPY fell to as low as 117.74 from 118.07. By the time of writing, it was trending around the same area, at 117.76. The pair had been pulling back starting at the top of the hour, easing away from its high of 118.31 at the top of the hour.

Read more: Higher US Yields Post-FOMC Pushing US Dollar to Fresh Highs

--- Written by Omar Habib, DailyFX

For questions or comments, e-mail feedback@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.