GOLD and US500 as assets which usually react to significant changes in the US dollar index (USDIDX) as well as rising US treasury yields are pressured by more risk aversion and strengthening US dollar after hotter than expected January CPI report. The 10-year yields rise today almost 10 bps to 4.64%, as traders expect only one Fed rate cut this year. GOLD extends decline today falling from $2950 per ounce to almost $2872 now. Both YoY / MoM headline and core US CPI for January came in much higher than expected. Traders shift next, anticipated Fed rate cut to December 2025 from September 2025 before the US inflation report.
Source: xStation5
Also, US500 loses almost 1% falling to 6030 - 6040 points ahead of US stock market open. We can see also much weaker sentiments across the cryptocurrency market with Bitcoin price falling from $97k to $95k after the US CPI.
Source: xStation5
USDIDX gains after the US CPI report, tracking the rising both short and long term US treasury yields.
Source: xStation5
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