The Euro continued the trend against the Greenback, inspite of the US producer prices showing its forecasted growth in January. The EUR/USD pair went up by 17 pips or 0.13% to been seen trading at 1.2483.
The Labour Department revealed that the US Producer Price Index climbed 0.4% in January, as forecasted. Data backed-up its growth rate with a strong increase in health care and gasoline prices, which moved up 0.7% and 7.1%, respectively. The PPI report fuelled expectations that price growth would accelerate in 2018 even with weaker correlation with inflation of consumer prices. Inflation is likely to be lifted towards the Fed's 2% target, owing to tightening job market, weak US Dollar, as well as larger government spending and tax reform.
| Historical Data Table: US PPI m/m | Economic Calendar for Feb 15 - Feb 16 | ||||||||
| Date | 12.10.2017 | 14.11.2017 | 12.12.2017 | 11.01.2018 | 15.02.2018 | 9:30 PM | NZ Manufacturing Index | ||
| Actual | 0.40% | 0.40% | 0.40% | -0.10% | 0.40% | 9:30 AM | UK Retail Sales m/m | ||
| Forecast | 0.40% | 0.10% | 0.40% | 0.20% | 0.40% | 1:30 PM | US Building Permits | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 0.7918 | 0.79251 | 0.09% | AUD/USD | 57.09% | 42.91% | |||
| EUR/USD | 1.24665 | 1.24832 | 0.13% | EUR/USD | 35.43% | 64.57% | |||
| USD/JPY | 106.652 | 106.529 | -0.12% | USD/JPY | 71.65% | 28.35% | |||
| NZD/USD | 0.73755 | 0.73823 | 0.09% | NZD/USD | 37.48% | 62.52% | |||