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US: Annual core PPI in January jumped to 1.7% vs. 1.3% expected

  • Annual core PPI in January rose to 1.7% from 1.1%.
  • US Dollar Index clings to gains above 99.50 after data.

The Producer Price Index (PPI) for final demand in January rose 0.5% on a monthly basis following December's 0.1%, the data published by the US Bureau of Labor Statistics showed on Wednesday. On a yearly basis, the PPI for final demand jumped to 2.1% from 1.3% and both of these reading came in higher than market expectations.

Moreover, the core PPI, which includes food and energy prices, increased to 1.7% on a yearly basis to beat the analysts' estimate of 1.3%.

USD reaction

The US Dollar Index edged higher in the early American session and was last seen at 99.55, where it was up 0.1% on a daily basis.

USD/CAD keeps the red near 3-week lows post-Canadian CPI/US data, FOMC minutes in focus

The USD/CAD pair maintained its offered tone near session lows, around the 1.3225-20 region, or near three-week lows, and moved little post-US/Canadia
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EUR/USD New York Price Forecast: Euro vulnerable near multi-year lows

EUR/USD is trading in a downtrend below its main daily simple moving averages (SMAs) as the spot is under strong selling pressure near 34-month lows.
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