Marketwatch North America

Daily Insights
August 10, 2023

Today’s U.S. CPI report for July was in-line with estimates: monthly Core CPI (excludes food and energy) was 0.2%, matching June’s 0.2% and the smallest back-to-back increase in two years; over the last 12 months full CPI was 3.2%, the first uptick since June 2022. The largest contributor to higher YoY CPI was for housing which accounted for 90% of the increase, with motor vehicle insurance also higher. So there’s something for everyone, a glass half full/half empty report.

The global equity indexes are all showing gains today, Nasdaq +0.82% and S&P500 +0.66%.

Treasury yields are lower in all tenors with the biggest declines in the 3- 5-year region, -0.04%.

USD is lower vs. the G10/majors, losing ground primarily vs. SEK (-0.60%), AUD (-0.55%), MXN (-0.54%), EUR (-0.36%), NZD (-0.33%), GBP (-0.21%), and CAD (-0.13%). The lone USD gain in the G10 is +0.35% vs. JPY.

The U.S. Dollar Index is -0.25% after recovering from a 0.69% decline earlier in the trading session.

Market attention now turns to tomorrow’s PPI data (producer prices) for July.

Economic Calendar

USD - CPI m/m
AUD - MI Inflation Expectations
USD - Core CPI m/m
EUR - ECB Economic Bulletin
USD - CPI y/y
USD - Unemployment Claims
USD - Natural Gas Storage
USD - 30-y Bond Auction
USD - Federal Budget Balance
USD - FOMC Member Harker Speaks
NZD - BusinessNZ Manufacturing Index
NZD - FPI m/m

Market Indicators

Currency Pairs
Pair High Low
usd/jpy 144.487 143.192
eur/usd 1.10653 1.09672
gbp/usd 1.28186 1.27065
aud/usd 0.66165 0.65262
usd/cad 1.34239 1.33715
eur/gbp 0.86607 0.86137
usd/mxn 17.0762 16.9095
Equities and Commodities
S&P 500 4483.32
NASDAQ 15168
DOW 35251.4
GOLD 1920.19
SILVER 22.84

This document is for information purposes only and does not constitute any recommendation or solicitation to any person to enter into any transaction or adopt any trading strategy, nor does it constitute any prediction of likely future movements in exchange rates or prices or any representation that any such future movements will not exceed those shown on any illustration. All exchange rates and figures appearing are for illustrative purposes only. You are advised to make your own independent judgment with respect to any matter contained herein.

About Mark Allen


Mark Allen, a Senior Trader at the GPS Capital Markets Salt Lake City office, boasts nearly 30 years’ market trading experience, with a focus on foreign exchange. Having worked with GPS for the last decade, he adeptly manages market risk during New York trading hours. Prior to joining GPS, Mark co-managed a London hedge fund from San Diego and traded for a multinational bank in San Francisco.