BREAKING: USD weakens slightly after PPI inflation data

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Annual producer inflation in the United States remained unchanged at 9.7% in January, which was the highest since data were first calculated in 2010, well above analysts’ estimates of 9.1%.

The producer price index for final demand less foods and energy also remain unchanged at 8.3% from a year earlier in January, the largest advance since data were first calculated in 2011, and above market expectations of an 7.9%.

EURUSD is trading higher today and today’s PPI data provided more fuel for bulls. The main currency pair is currently approaching a short-term resistance zone in the 1.1365 area. Source: xStation5

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