German PPI (M/M) Sep: -0.5% (est -0.2%; prev 0.2%)
- PPI (Y/Y): -1.4% (est -1.1%; prev -0.8%)
Lower energy prices were the main reason for the year-on-year decline in producer prices also in September 2024, while higher prices had to be paid for capital, consumer and intermediate goods.
The lower-than-expected PPI infusion reduces the chances of a hawkish decision by the ECB, which affects the short-lived weakness of the euro after the data reading.


Daily summary: Gold retreats 3% as US dollar rebounds after hawkish Warsh speech in Jackson Hole
🚩 EURUSD loses 0.3%
🗽 Fed chair, Kevin Warsh speech from Jackson Hole
Economic Calendar: All eyes on Kevin Warsh! Will Fed Chair protect his credibility?