BREAKING: USD weakens slightly after claims and PPI data

1:38 PM May 12, 2022
  • ​​​​​​The number of Americans filling for unemployment benefits was  0.203 million in the week ended May 7, compared to 0.200 million reported in the previous week. Today’s reading came in above/below market expectations of 0.195 million. 
  • Continuing claims reading, which lags initial jobless claims data by one week, dropped to  1.343million from 1.384 million, while analysts expected a decrease to 1.380 million. 
  • Annual producer inflation in the United States edged down/higher to 11.0% in April from 11.2% in March, above analysts’ estimates of 10.7%
  • The producer price index for final demand less foods and energy  dropped to 8.80% from a year earlier in April, from 9.2% in March and below market expectations of an 8.9% increase.

EURUSD is trading lower today, however data provided some fuel for bulls. The main currency pair bounced off local support 1.0388. Source: xStation

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