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The release of the US Producer Price Index has caused a minor 23 point decline in the US Dollar index.
The move occurred due to the lower than expected Core PPI at 0.0% instead of 0.2%, which caused downwards pressure on the USD.
However, at the same time the Dollar strengthened due to a revision downwards of the previous month's PPI from -0.5% to -0.4%. Prior to the release, it was expected that there would be no revision. Meanwhile, the PPI for November was expected to be at 0.00%, and the forecast was hit.
Wed, 13 Dec 2023 14:16:27 GMT
Source: Dukascopy Bank SA
The release of the US Producer Price Index has caused a minor 23 point decline in the US Dollar index.
The move occurred due to the lower than expected Core PPI at 0.0% instead of 0.2%, which caused downwards pressure on the USD.
However, at the same time the Dollar strengthened due to a revision downwards of the previous month's PPI from -0.5% to -0.4%. Prior to the release, it was expected that there would be no revision. Meanwhile, the PPI for November was expected to be at 0.00%, and the forecast was hit.