The US dollar nearly completed a week of recovery until weakness struck again. The producer price figures serve as a reality check. The greenback comeback is now in doubt and the final verdict belongs to the more important inflation indicator: the Consumer Price Index released tomorrow. Jobs are looking great as seen in the Non-Farm Payrolls and also in the JOLTs report. Inflation? Not so much. Headline PPI slipped by 0.1% m/m against expectations for a rise of the same scale. Core PPI also dropped, by 0.1% against predictions for a rise of 0.2%. Year over year data followed with 1.9% on the headline and 1.8% on the core, both below projections. If PPI represents inflation in the pipeline, things aren’t looking so great. And without inflation now or later, it is hard to see much enthusiasm for a rate hike. In a separate report, we learned that US jobless claims stand at 244K, within known ranges. Once again, jobs look good but inflation is nowhere to be seen. Currency reaction to the PPI report EUR/USD had already dipped under the 2015 high of 1.1710 but bounced back remarkably to 1.1744. USD/JPY was flirting with 110 and is now at 109.60. Tensions around North Korea boost the yen. GBP/USD clawed its way back above 1.30. UK data has been mixed. USD/CAD is down to 1.2680 despite clear weakness from the C$ earlier this week. AUD/USD is also recovering to 0.79. More: EUR/USD consolidating above support: boom or bust? Later today we will hear from Bill Dudley. He is No. 3 at the Fed. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/CHF: 2 Reasons For Further Upside Towards 1.20 – Yohay Elam 6 years The US dollar nearly completed a week of recovery until weakness struck again. The producer price figures serve as a reality check. The greenback comeback is now in doubt and the final verdict belongs to the more important inflation indicator: the Consumer Price Index released tomorrow. Jobs are looking great as seen in the Non-Farm Payrolls and also in the JOLTs report. Inflation? Not so much. Headline PPI slipped by 0.1% m/m against expectations for a rise of the same scale. Core PPI also dropped, by 0.1% against predictions for a rise of 0.2%. Year over year data followed with… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
