CPI a little higher than expected. Empire Manufacturing comes in stronger.

Written July 15, 2009 at 8:33 AM EST by  

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The Empire Manufacturing comes in a the -0.55 which is better than the -5.0 expected. 

The CPI came in at +0.7% led by gasoline (+17.3%).   The Transportation component added 0.64% of the +0.7% gain this month.  The ex food and energy rose by a more modest 0.2%. 

The rise in the headline index is the highest since July 2008. 

YoY the CPI fell by -1.4% vs -1.3% last month. The ex food and energy YoY came in at +1.7% which is ties the lowest level in the current cycle reached in January. 

The EURUSD has moved lower after the release as profit takers enter the market against the 1.4100 level.  The high reached 1.4097.

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