Weekly Update on Employment: Focus on the USD
The United States will release the weekly Unemployment Claims on Thursday, at 15:30 MT time (GMT+3).
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
NFP: Roller-coaster for the USD
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on September 3.
Fed Jackson Hole Conference To Take Place Virtually
The Kansas City Federal Reserve announced Friday the annual Jackson Hole symposium will be held virtually, a reversal from prior plans that saw a modified, in-person program…
Latest news
Stock Market Recovers, Fed Meeting Is Eyed
A selloff in stocks stopped. S&P 500 has reversed up from the 100-day moving average. It should be the perfect time to buy the index.
Where is Dogecoin?
Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
Key Market Driver: FOMC Statement
The FOMC, a committee within the Federal Reserve, will hold an important meeting and press conference on September 22 at 21:00 MT time (GMT+3).
Deposit with your local payment systems
