EUR/USD: US PPI

The European Common Currency traded sideways against the US Dollar, following the US PPI data release on Thursday at 12:30 GMT. The EUR/USD exchange currency rate lost 4 pips or 0.03% right after the release. The Euro continued trading at the 1.1196 level against the US Dollar.

Bureau of Labor Statistics released the US PPI data, which came out in line with expectations of 0.2%.

According to the release: "The Producer Price Index for final demand rose 0.2 percent in April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.6 percent in March and 0.1 percent in February. On an unadjusted basis, the final demand index increased 2.2 percent for the 12 months ended in April."