BREAKING: US PPI inflation still running hot, USD gains slightly

A set of US economic data has just been released. First of all, the PPI inflation print for the month of July turned out to be higher than expected.

PPI inflation for July:

• 7.8% YoY (vs exp. 7.3% YoY and previously 7.3% YoY)

• 1.0% MoM (vs exp. 0.6% MoM and previously 1.0% MoM)

Also, US jobless claims data showed that 375k Americans filed for unemployment benefits last week -  in-line with expectations as markets expected that this number would amount to 375k. Continuing jobless claims continued to fall as the figure came in at 2,866k (vs exp. 2,880k). 

Shortly after the releases the US dollar strengthened slightly. EURUSD is hovering near 1.1733 and stays above the 50-hour moving average. US equity futures are little changed, hovering near record levels. All in all, the market's reaction is limited. 

Source: xStation5