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US CPI higher than forecast, but weekly claims stymie dollar gains- USD/JPY falls
The September US Consumer Price Index (CPI) report has just been released. The markets were expecting a lower annualised rate of 2.3%, compared to a prior reading of 2.5%. The core rate was forecast to remain unchanged, at 3.2% annualised. The actual data has risen above consensus on all counts. However, the latest weekly jobless claims has risen way above forecasts, at 258k and that has really more than countered the higher CPI data. The USD/JPY has reacted immediately to this, and fallen back on the claims data. The USD/JPY is just now trading at 148.60
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