EUR/USD: US PPI

The European Common Currency traded sideways against the US Dollar, following the US PPI data release on Tuesday at 12:30 GMT. The EUR/USD exchange currency rate lost 8 pips or 0.07% right after the release. The Euro continued trading at the 1.0992 level against the Greenback.

The Bureau of Labor Statistics released the US Core PPI data, which came out worse-than-expected of negative 0.3% compared with the forecast of 0.2%.

According to the official release: "The Producer Price Index for final demand decreased 0.3 percent in September, seasonally adjusted. Final demand prices rose 0.1 percent in August and 0.2 percent in July. On an unadjusted basis, the final demand index advanced 1.4 percent for the 12 months ended in September."