September US producer price index:
- Prior was 0.0%
- Ex food and energy -0.3% m/m vs +0.1% exp
- Prior ex food and energy +0.3% (unrevised)
- Ex food, energy and trade -0.3% m/m vs +0.1% exp
- PPI -1.1% y/y vs -0.8% expected
There were no revisions to the August report.
Soft pipeline prices along with a soft retail sales report are two more reasons for the Fed to stay on the sideline and to sell the US dollar.
The US dollar is softer right across the board on the data. The euro jumped 30 pips on the report and is higher for the fifth straight day.