- Prior month 7.4% YoY revised to 7.3%
- PPI MoM -0.5% versus -0.1% expected
- Prior month MoM 0.3% revised 2+0.2%
- Ex food and energy YoY 5.5% vs 5.7% expected
- Ex food and energy MoM 0.1% vs 0.1% expected
- prior Ex food and energy MoM 0.4% revised+0.2%
- Final demand goods prices -1.6%. Largest decrease since .1 .8% in July Goods ex food and energy +0.2% services +0.1%
- final demand services prices rose 0.1% in December after rising 0.2% in November. A major factor in December increase in prices for final demand services was a 17.6% jump in margins for fuels and lubricants retailing
The USD has seen a drop after the lower PPI and the lower than expect retail sales as well. The USDJPY is now trading back below its 100 hour MA at 128.764. The price also fully retraced the gains and the trading range. The BOJ kept policy unchanged, but that is not detering the market to price in action down the road.
The GBPUSD has moved to a new high for the day and is getting closer to retesting the high from December at 1.24458. The high price reached 1.24197 so far
The 10 year yield is down -9.8 basis points at 3.439%.
US stocks are marginally higher with the futures implying the Dow up 40 points. The NASDAQ index futures are implying a 60 point of rise while the S&P is up 11 points
The last 6 months of the PPI MoM gains now add to 0.0%. Pipeline input inflation is coming back down.
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