US, PPI inflation for June:
- Headline. Actual: 0.1% YoY. Expected: 0.4% YoY. Previous: 1.1% YoY
- Core. Actual: 2.4% YoY. Expected: 2.7% YoY. Previous: 2.8% YoY
- PPI monthly inflation Headline: 0.1% MoM. Expected: 0.2% MoM. Previous: -0.3% MoM
- Monthly core PPI inflation: 0.1% MoM. Expected: 0.2% MoM. Previous: 0.2% MoM
US, jobless claims. Actual: 237k. Expected: 250k. Previous: 248k
In June, the Producer Price Index (PPI) for final demand rose by 0.1%, following a decline of 0.4% in May and a slight rise in April. This was primarily due to a 0.2% increase in the index for final demand services, while the prices for final demand goods remained unchanged. The index for final demand, excluding foods, energy, and trade services, also increased by 0.1% in June. On a 12-month basis, prices for final demand less foods, energy, and trade services advanced 2.6%. Final demand services saw a 0.2% increase, mainly driven by a 5.4% increase in the deposit services index. Meanwhile, prices for final demand goods were stable, with a rise in energy prices offset by decreases in food and other goods.
EURUSD slightly decreases following the publication. This suggests that strong Jobless Claims outweigh lower PPI data, thereby increasing chances for a more hawkish tone from the FED. Lower PPI was already priced in following yesterday's lower CPI figures, M15 interval, source xStation 5
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