US annual PPI inflation rises to 2.2% in April as expected
Source Fxstreet
- Producer inflation in the US climbed to 2.2% on a yearly basis in April.
- US Dollar Index stays in positive territory above 105.00 after PPI data.
The Producer Price Index (PPI) for final demand in the US rose 2.2% on a yearly basis in April, the data published by the US Bureau of Labor Statistics showed on Tuesday. This reading followed the 1.8% increase recorded in March (revised from 2.1%) and came in line with the market expectation.
The annual core PPI rose 2.4% in the same period, matching March's increase and analysts' estimate. On a monthly basis, the PPI and the core PPI both rose 0.5% in April.
Market reaction
The US Dollar (USD) gathered strength against its rivals with the immediate reaction. After spiking to a daily high near 105.50, however, the USD Index retreated and was last seen gaining 0.1% on the day at 105.32.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The U.S. government refuses to bail out Bitcoin, and with Fed rate cuts nowhere in sight, a continued downward trend to test for a bottom is likely after a brief rebound.During the mid-da
Precious metals' volatility mirrored Bitcoin's downturn as it targets lower price points.
Bitcoin's plunge to $70K triggers a $775M leverage washout, driving a capital rotation into quantum-secure infrastructure project BMIC as investors seek uncorrelated alpha.
Ethereum Price Forecast: ETH faces heavy distribution as price slips below average cost basis of investorsEthereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Gold returns to the $5,000 mark as Bitcoin prices weaken to hit new lows; what is the future outlook?During the Asian session on Wednesday (February 4), gold ( XAUUSD) prices continued to
