European markets were all up overnight - this was before the US CPI data was released.
The FTSE rose 30 points (.34%), the DAX rose 110 points (.50%) and the CAC rose 13 points (.17%).
Indices were mixed in the US.
The DOW fell 225 points (.50%), the NBI rose 58 points (1.33%), the NASDAQ Composite rose a modest 6 points (.031%) and the Russell small cap index fell 19 points (.87%).
The NBI had a decent reversal of recent trends and rose strongly.
US CPI data was disappointing and showed an increase in inflation for January. Inflation increased to 3% in January (up from 2.9% in December). Core inflation rose to 3.3% (3.2% in December).
Lot of political blame games as a result with Trump calling this "Biden inflation" but we could be seeing an upward trend with inflation in the US and that may lead to inflationary pressures elsewhere in the world.
US Treasury 10 year bond yield rose to 4.634%. This is a worrying sign.
Oil prices dropped to US$75.04 per barrel. Oil prices were moving up until the US CPI data was released.
Gold price edged up to US$2,901 per oz. Again, the CPI data reversed the fall in precious metals. Silver price also rose.
BITCOIN rallied and is at US$97,547.
IMU Price at posting:
3.7¢ Sentiment: Buy Disclosure: Not Held
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