01:30 PM BST, United States - Employment Data:
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Initial Jobless Claims: actual 248K; forecast 242K; previous 248K;
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Jobless Claims 4-Week Avg.: actual 240.25K; previous 235.25K;
01:30 PM BST, United States - Inflation Data for May:
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PPI: actual 2.6% YoY; forecast 2.6% YoY; previous 2.5% YoY;
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PPI: actual 0.1% MoM; forecast 0.2% MoM; previous -0.2% MoM;
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Core PPI: actual 0.1% MoM; forecast 0.3% MoM; previous -0.2% MoM;
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Core PPI: actual 3.0% YoY; forecast 3.1% YoY; previous 3.2% YoY;
U.S. producer prices rose 0.1% in May, marking a modest rebound after two months of declines. Year-over-year, the Producer Price Index (PPI) rose 2.6%. Core PPI (excluding food, energy, and trade services) also edged up, but did not exceed the initial forecasts. The increase was driven by service prices, particularly wholesale margins, while goods prices saw modest gains. The data signals steady but subdued inflation, reinforcing expectations of a continued Fed pause and giving markets breathing room.
The EURUSD continued its rally, breaking over 1,16 after the release of the data.
Source: xStation5
Daily summary: The market pauses at the top
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BREAKING: First U.S. inventory decline in two months, mainly due to record exports