PPI data from the US for January is due at 1330 GMT
What to expect? This via Barclays:
- We expect final demand PPI to have risen by 0.3% on the month (2.4% y/y) in January.
- For core PPI, we forecast an increase of 0.2% m/m and 2.0% y/y.
- We look for substantial increase in energy prices, while we also expect food prices to stage a firm rebound. Final demand PPI has gradually picked up over the past year as the drag from the energy component has diminished.
The CPI data was out on Wednesday and came in higher than expected for the m/m.
After an initial spike the USD ended up on the session well lower.
Which makes sense given US yields moved higher .... errr... no, wait
At least the stock market makes sense, that went up because retail sales fell hard and yields went up ... errr ... no, wait.
Actually .... ... go figure :-D
