What you should know on Thursday, January 13:
The dollar tumbled following the release of US inflation figures. The December Consumer Price Index was confirmed at 7% YoY, as expected, while the core reading beat expectations at 5.5%. The news, which often generates risk aversion, this time had the opposite effect.
Stocks rose, although indices cut earnings unevenly before the close, while government bond yields fell, sending the US dollar into a selling spiral, exacerbated by the breakout of technical levels.
EUR / USD is trading at its highest level in two months around 1.1450, while GBP / USD jumped to 1.3710, its highest level since October. Commodity currencies also traded higher, with AUD / USD hovering around 0.7280 while USD / CAD touched 1.2500.
The dollar also lost ground against safe-haven assets, as the USD / JPY pair fell to 114.37, staying close to the Asian open.
Gold advanced modestly as investors sought high-yielding assets. The shiny metal is trading around $ 1,827 a troy ounce. Crude oil prices also rose, with WTI trading at $ 82.60 per barrel.
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