US DATA: Jul PPI +0.3% and PPI ex-food and energy +0.4% both above
expectations. PPI core unrounded +0.43836% v +0.21966% in Jun. PPI
unrounded +0.26055% vs +0.5214% in Jun. Jul Y/Y PPI +0.5% which was the
smallest incr since Oct’09 (-2.0%). PPI Core Y/Y +2.5% vs +2.6% Jun.
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US DATA: Jul Retail Sales +0.8%; ex-motor vehicles +0.8% beating
expectations for a 0.3% increase in both categories. Jun retail sales
were revised to -0.7% (prev -0.5%) and Jun retail sales ex-motor
vehicles were revised to -0.8% (prev -0.4%). Retail sales ex-gas +0.8%
which was the largest increase since Oct’11 (+1.0%). Department store
sales +0.6% which was the largest incr since Sep’11 (+1.1%). Gains were
broad with increases in every category.