German PPI YoY: -2.2% (Forecast -1.7%, Previous -1.5%)
- German PPI MoM: -0.5% (Forecast -0.1%, Previous -0.1%)
Lower PPI data from Germany signals that the country is facing serious problems with the demand side, pressuring producer prices lower. Monthly decline came in much weaker than expected.
Daily Summary: Wall Street Stabilizes Despite Higher Oil Prices
Cocoa loses 5% amid rising inventories on ICE
Oil gains 3% amid US - Iran escalation and supply disruption on the Black Sea
🔼 Gold gains 1.7%