U.S PPI Rises 0.5% In May , USD Recovers Cautiously !

forex sales min
forex sales min

The Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation.

The U.S Producer Price Index (PPI) rose to 0.5%, from -0.4% in the previous month , U.S PPI was expected to rise 0.4% last month.

Market Impact : This development is supposed to advance the US dollar , but market reaction was different a little bit . Fore example ; EURUSD rebounded to test the key resistance 1.1247 where fall resumption is very likely.

Now, I think It depends on U.S  Michigan Consumer Sentiment data after 30 min. Negative US data may push the pair further higher towards the 1.1283/1.1330 levels before the next fall, Positive US data should bring another decline below 1.1247 levels…anyway…I think breaking below 1.1150, probably not easy today !!!

 

U_S PPI Rises

 

MARKET DATA

UPCOMING ECONOMIC EVENTS