US annual PPI inflation softens to 2.3% in June vs. 2.5% expected
Source Fxstreet
- Producer inflation in the US continued to soften in June.
- US Dollar Index trades marginally lower on the day near 98.50.
The Producer Price Index (PPI) for final demand in the US rose 2.3% on a yearly basis in June, the data published by the US Bureau of Labor Statistics showed on Wednesday. This reading followed the 2.6% increase recorded in May and came in below the market expectation of 2.5%.
The annual core PPI rose 2.6% in the same period, down from 3% in May. On a monthly basis, the PPI and the core PPI were both unchanged.
Market reaction
The US Dollar Index edged slightly lower with the immediate reaction and was last seen losing 0.1% on the day at 98.55.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold price (XAU/USD) edges higher during the Asian session on Wednesday and reverses a part of the overnight downfall to a multi-day low, though it lacks follow-through buying.
EUR/USD rebounds from 1.1600 despite market caution ahead of US PPI dataEUR/USD halts its five-day losing streak, trading around 1.1610 during the Asian hours on Wednesday. The pair appreciates despite the stable US Dollar (USD), driven by traders’ caution ahead of the upcoming US Producer Price Index (PPI) later on Wednesday.
EUR/USD halts its five-day losing streak, trading around 1.1610 during the Asian hours on Wednesday. The pair appreciates despite the stable US Dollar (USD), driven by traders’ caution ahead of the upcoming US Producer Price Index (PPI) later on Wednesday.
XRP price started a fresh increase and traded above the $3.00 zone. The price is now correcting gains and might find bids near the $2.840 support zone. XRP price started a fresh increase above the
Bitcoin’s (BTC) on-chain activity has accelerated over the past few days, with the leading cryptocurrency by market cap hitting successive new all-time highs (ATHs). As a result, several metrics
The AUD/JPY cross attracts fresh buyers during the Asian session on Wednesday and steadily climbs back closer to its highest level since late January touched the previous day.
