Forex Pros – Producer price inflation in the U.S. rose more-than-expected in December, official data showed on Thursday.
In a report, the Bureau of Labor Statistics said that PPI rose by a seasonally adjusted 1.1% in December, after rising by 0.8% in November.
Analysts had expected PPI to increase by 0.7% in December.
The report also showed that core PPI, which excludes food and energy costs, rose in line with expectations, rising by 0.2% in December, after increasing by 0.3% in November.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD surging 1.01% to hit 1.3262.
Meanwhile, the outlook for U.S. equity markets was downbeat: Dow Jones Industrial Average futures pointed to a loss of 0.19%, S&P 500 futures indicated a drop of 0.22%, while the Nasdaq 100 futures were down 0.16%.
ForexPros.com - Forex Pros offers a diverse set of professional tools for Forex, Futures and CFDs. These include real-time data streams, technical and fundamental analysis by in-house experts, and a widely used economic calendar.
Market News and Data brought to you by Benzinga APIsIn a report, the Bureau of Labor Statistics said that PPI rose by a seasonally adjusted 1.1% in December, after rising by 0.8% in November.
Analysts had expected PPI to increase by 0.7% in December.
The report also showed that core PPI, which excludes food and energy costs, rose in line with expectations, rising by 0.2% in December, after increasing by 0.3% in November.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD surging 1.01% to hit 1.3262.
Meanwhile, the outlook for U.S. equity markets was downbeat: Dow Jones Industrial Average futures pointed to a loss of 0.19%, S&P 500 futures indicated a drop of 0.22%, while the Nasdaq 100 futures were down 0.16%.
ForexPros.com - Forex Pros offers a diverse set of professional tools for Forex, Futures and CFDs. These include real-time data streams, technical and fundamental analysis by in-house experts, and a widely used economic calendar.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in