
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
In December, a major measure of American producer prices suddenly slumped and the overall gauge went down more than predicted in the face of lower crude prices, indicating that potential inflation pressures in the American economy are still there.
Without energy and food, producer prices dived by 0.1% from December, which appears to be the first tumble in a year, as follows from a Labor Department report uncovered on Tuesday. From November the overall producer-price index declined by nearly 0.2% following a 0.15 ascend.
Core producer-price gains stood still at 2.7% on an annual basis, confounding estimates for 3%, while the broad indicator surged by up to 2.5%, also intact from the previous outcome. Energy and food prices are traditionally volatile.
The PPI figures, gauging wholesale as well as other selling costs at businesses, drop a hint that prices are gradually firming up. Moreover, they are also in line with the consumer-price report, which disclosed a drag from energy costs. Meanwhile, core inflation stood still, providing the major US bank with little urgency to have rates lifted in the nearer future.
Energy costs slumped by 5.4% from November within final demand PPI for goods, led by a 13.1% sink in gasoline prices. As for food costs, they headed north by 2.6%.
Without trade services, energy and food, producer costs, a gauge preferred by financial analysts for its ability to strip out the most volatile components, moderated to an intact month-on-month outcome, while the annual gain kept to 2.8% for a third straight month.
The PPI for services went down by about 0.1%, which appears to be the first tumble for four months, suppressed by transportation as well as warehousing and also narrower margins for wholesalers and retailers. It had the core index dragged down.
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
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