The ‘CPI’ is not establishing itself as a ‘game changer’ on the FOREX, as evidenced by minimal gaps, comparable in every way to the marginal shifts observed over the first 7 sessions of the year.
The Dollar Index posted +0.25% at 12.62, with intraday volatility closer to 0.3%.
The Dollar gained 0.2% against the Euro at 1.0952, and 0.15% against the Pound and Yen (146.00).
The Swiss Franc stood out, losing -0.55% and -0.35% against the Euro.
It’s hard to guess that the session was punctuated by the week’s most eagerly-awaited figures, namely the consumer price index, which came in slightly above consensus.
The most closely watched component, Core CPI, came in at +0.3% (in line with expectations, but with inflation at +3.9% annualized vs. 3.8% expected), while the overall rate came in at +0.3% (+0.2% expected) and +3.4% annualized (vs. 3.2% expected).
Otherwise – amid general indifference on the part of traders – jobless claims are virtually stable, down by -1,000 on a weekly basis, which is equivalent to the margin of uncertainty.
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