News and Market Analysis

Update-August CPI

The Consumer Price Index (CPI) numbers for August came in lower than the previous month from 0.6% to 0.4%. On a yearly basis CPI rose from 1 to 1.3%.

The dollar Index has had mixed reactions to the result. Currently trading around 93.00, it has made some modest ground as it bounced off 92.7. But it hold on by a thread as it hovers around strong technical levels. A drop below 93.00 could see DXY trade to the weekly low of 992.70. Resistance is stong at 93.65