01:30 PM GMT, United States - Inflation Data for December:
- Core PPI: actual 3.5% YoY; forecast 3.8% YoY; previous 3.5% YoY;
- Core PPI: actual 0.0% MoM; forecast 0.3% MoM; previous 0.2% MoM;
- PPI: actual 0.2% MoM; forecast 0.4% MoM; previous 0.4% MoM;
- PPI: actual 3.3% YoY; forecast 3.5% YoY; previous 3.0% YoY;
- PPI ex. Food/Energy/Transport: actual 0.1% MoM; forecast 0.3% MoM; previous 0.1% MoM;
- PPI ex. Food/Energy/Transport: actual 3.3% YoY; previous 3.5% YoY;
Inflation data comes in significantly below expectations. As a result, we are seeing a market rebound, the dollar is weakening considerably, and riskier assets like stocks and cryptocurrencies are bouncing back. Over the past two weeks, investors have been worried about the return of inflationary pressure. Therefore, today’s lower PPI readings are boosting sentiment, giving investors hope ahead of tomorrow’s CPI release.
BREAKING: EURUSD muted; US services growth cools in December as demand softens ๐
Barkin and Miran remain on opposite sides of the Fed policy path๐๏ธ
BREAKING: German inflation comes in significantly below expectations, EURUSD slips ๐
BREAKING: European PMIs slightly weaker than expected; Spain stands out positively ๐