U.S. producer prices - Ester Holdings

U.S. producer prices

  • Core Producer Price Index (PPI) (m/m) (May), fact 0.2%, forecast 0.2%.
  • Producer Price Index (PPI) (m/m) (May), fact 0.1%, forecast 0.1%.

Data on producer prices (PPI) in the United States fully coincided with forecasts, confirming a slowdown in inflationary pressure in the United States in May. Due to the fact that the actual data coincided with the forecast, this news did not have a significant impact on the US currency, in fact confirming the slowdown of this indicator.

Fig. 1. US producer price index (PPI)

The dynamics of the US dollar and the market as a whole remain quite restrained in the absence of meaningful data. Safe-haven currencies remain under a significant pressure  on the overall growth of optimism and currencies of the Pacific region, in particular, the New Zealand dollar.

Separately, it is worth highlighting another statement by the US President D. Trump that the US currency is too expensive and that the Fed rate hike is not justified. But the market is actually not responding to such statements from Trump.

The US dollar index continues to trade in a narrow side channel from the beginning of the day, maintaining a downward trend, but at the same time feeling the support at the level of 96.70. Significant resistance levels: 97.00 and 97.30, support: 96.70 and 96.50.

Fig. 2. The US dollar index chart. The current price is 97.80 (10-year US government bonds  yield is the blue line)

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Hanzenko Anton


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