US PPI
- Prior was +8.0%
- PPI +0.3% m/m vs +0.2% expected
- Prior m/m reading was+0.2% (revised to +0.3%)
- Ex-food and energy +6.2% y/y vs +5.9% expected
- Ex-food and energy +0.4% m/m vs +0.2% expected
- Prior ex-food and energy m/m +0.0% (revised to +0.1%)
- Goods +0.1% vs +0.6% prior
- Services +0.4% vs -0.1% prior
- Full report
This has led to a big jump in the US dollar with USD/JPY spiking to 136.50 from 135.75. We're seeing similar-sized moves in other dollar trades but note that last month the trade was to fade the PPI spikes.