US dollar hits lows after PPI report
JOLTS and PPI aren't often market movers but the dollar jumped a cent after this week's strong JOLTS report and it's stumbled after today's PPI data.
That highlights are market that really has no idea which way the US economy is going, no idea which way inflation is going, no idea which way Congress is going and no idea what the Fed is thinking.
So anything that looks like it might be a hint is like a life raft for the bulls or bears and they cling to it.
On Friday there is some genuine top tier data with the CPI report. Part of today's dollar reaction is because many thing PPI is a preview of CPI. There is some truth in that but they often diverge so I'm not convinced it's a smart trade.
