WTI drops like a stone as markets kick into gear following US CPI

US CPI sees the US Dollar catch a late bid. data and during the Wall Street cash open. West Texas Intermediate crude oil was down 1.4% on the day at the time of writing, slightly up from the lows of around $77.69 a barrel but well below the highs of USD79.80bbls.

US Consumer Price Index has come out in line with expectations for the month-over-month data 0.4% vs 0.4% expected. Meanwhile, US January CPI for the year came in at +6.4% vs +6.2% expected. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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Source: CNBC - 🏆 12. / 72 Read more »