US annual PPI inflation drops to 2.2% in July vs. 2.3% expected
Source Fxstreet
- Producer inflation in the US rose at a softer pace than expected in July.
- US Dollar Index stays near 103.00 following the PPI data.
The Producer Price Index (PPI) for final demand in the US rose 2.2% on a yearly basis in July, the data published by the US Bureau of Labor Statistics showed on Tuesday. This reading followed the 2.7% increase recorded in June and came in below the market expectation of 2.3%.
The annual core PPI rose 2.4% in the same period, falling short of analysts' estimate of 2.7%. On a monthly basis, the PPI increased 0.1%, while the core PPI remained unchanged.
Market reaction
The US Dollar Index showed no reaction to these data and was last seen moving sideways slightly above 103.00.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold selling pressure persists as traders lock in profits ahead of US NFP reportGold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.
Gold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.
Silver (XAG/USD) is trading lower in an otherwise calm market session on Thursday.
Bitcoin briefly dips under $90,000 as profit-taking drags ETH, XRP and BNB lowerBitcoin briefly slipped below $90,000 after hitting $94,000 earlier in the week, with ETH falling to $3,120 as traders cited profit-taking, $150 million in long liquidations, and macro uncertainty including U.S. jobs data and tariff-related Supreme Court risks.
Bitcoin briefly slipped below $90,000 after hitting $94,000 earlier in the week, with ETH falling to $3,120 as traders cited profit-taking, $150 million in long liquidations, and macro uncertainty including U.S. jobs data and tariff-related Supreme Court risks.
BTC holds above $90,000, ETH hovers near $3,128 at the 50-day EMA, and XRP steadies above $2.07 as traders weigh rebound targets and key downside levels.
Bitcoin's recovery is in jeopardy with bearish predictions dominating sentiment as traders cite ongoing resistance and technical patterns hinting at further declines.
