Producer prices for final demand in the US rose from a year earlier in April to 6.2%, following a 4.2 % increase in the previous month and beating market consensus of 5.9 %. It was the largest advance in producer prices since September 2011.
The number of Americans filing for unemployment benefits was 0.473 million in the week ended May 8th, compared to the 0.498 million reported in the previous week. Today’s reading came in below market expectations of 0.490 million.
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Create account Try a demo Download mobile app Download mobile appContinuing claims reading, which lags initial jobless claims data by one week, dropped to 3.660 million, while analysts expected a decrease to 3.655 million. Today’s reading still remains much above the 1.7 million average reported before the pandemic.
EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.2080 level. Source: xStation5
