2:33 PM · 15 November 2022

BREAKING: USD weakens after upbeat PPI data

Producer Prices in the US decreased to 8.0%YoY in October from 8.5% in the previous month and below market expectations of 8.3%.

Core PPI decreased to 6.7% YoY in October, following a 7.2% increase in September and below market expectations of a 7.2%.

EURUSD is trading higher today and today’s data provided more fuel for bulls. The main currency pair is currently approaching a short-term resistance zone in the 1.0440 area. Source: xStation

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Economic Calendar: U.S. ISM Services Index in the Spotlight

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