BREAKING: EURUSD gains after lower US PPI data

2:33 PM 12 January 2024

Core PPI in December comes in at 0% m/m vs 0.2% forecast -
Core PPI in December comes in at 1.8% y/y vs 2% forecast
Headline PPI in December comes in at -0.1% m/m vs 0.1% forecast
Headline PPI in December comes in at 1% vs 1.3% forecast
PPI inflation report shows colder than expected print across all readings!
March implied cut probability up to 84% after misses on PPI vs 72% before; 160bps of cuts prices across 2024 vs 152bps before

Source: XTB Research

The euro gains against the US dollar shortly after publication of PPI data.

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