The ECB brings an opportunity to the EUR traders
The European central bank will conduct its press conference on January 24 at 15:30 MT time.
American producer prices report the first sink for 1.5 years
In August, American producer prices suddenly dived, reporting their first sink for 1-1/2 years because dives in the prices of food as well as an array of trade services compensated a leap in the cost of energy products.
On Wednesday, the Labor Department disclosed that its producer price index for final demand went down by nearly 0.1% in August having being intact in July. Evidently, August's slump in the PPI turned out to be the first since February last year.
For the 12 months through August, the PPI managed to gain 2.8%, speeding down further after July's 3.3% soar.
Market experts interviewed by Reuters had predicted the PPI leaping by 0.2% in August and also soaring by 3.2% year-on-year.
A primary indicator of underlying producer price pressures, without energy, trade services, and also food, added 0.1% in August. As for the core PPI, it ascended by 0.3% in July.
By the way, for the 12 months through August, in the United States the major PPI jumped by 2.9% having gained 2.8% in July.
Notwithstanding the moderation in producer prices in August, inflation is steadily going up in the face of a firm labor market as well as robust economy. The current US presidential administration's import levies on washing machines, lumber, solar panels, aluminum, and steel, not to mention a range of Chinese products, are also anticipated to back price pressures.
The personal consumption expenditures price index without energy and also food, which is the Fed’s preferred inflation measure, tacked on by 2% in July, reaching the Fed’s 2% objective for the third time in 2018.
Wholesale food prices went down by 0.6% in August, suppressed by steep dip in the costs of fresh fruits, melons, and eggs. Besides this, in July, food prices sank by 0.1%.
Similar
American home sales reach three-year minimum
In December, American home sales slipped to their lowest value for three years…
UK pay surge reaches fresh 10-year maximum as employment jumps
UK employees’ pay surge reached another 10-year maximum and employment rallied by much more than anticipated for the three months to the end of November due to the fact that the UK labor market was still firm notwithstanding other signs of an economic…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Deposit with your local payment systems
