US producer prices unchanged in July
2018-08-09 04:02 pm | Resource: NEWS | No Views : 78
A report released by the Ministry of Labor on Thursday showed that producer prices unexpectedly rose in July.
The Labor Department said the PPI had not changed in July after rising by 0.3 percent in June. Economists had expected producer prices to rise by 0.2 percent.
The reading came unchanged on producer prices, rising by 0.1 percent from the index of final goods prices, which were compensated by 0.1 percent in final demand services prices.
Excluding food and energy prices, the core producer price index rose 0.1 percent in July after rising by 0.3 percent the previous month. Core prices were expected to rise by 0.2 percent.
Compared to the same month last year, producer prices in July rose 3.3 percent, reflecting a modest slowdown from a 3.4 percent rise in June.
The annual rate of growth in basic product prices slowed to 2.7 per cent in July from 2.8 per cent in the previous month.
On Friday, the Labor Department is due to release a separate report on consumer price inflation in July. Consumer prices and core consumer prices are expected to rise by 0.2 percent.
Time frame Used - four hours The USDJPY is moving in a bearish direction in the near term. The USDJPY reached to the support level of112.29 to bounce back to the 112.92 level as the USDJPY faced resistance and selling pressure around this level, forming a lower high to retreat to the 112.64 level, trying to stability above this level , As the USDJPY moves into a bearish channel and…
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