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US PPI final for June demand YoY 1.7% versus 1.6% estimate

US PPI for June

  • US PPI YoY, 1.7% versus 1.6% estimate. 1.8% last month
  • US PPI Ex food and energy 2.3% versus 2.1% estimate. 2.3% last month
  • US PPI ex food, energy and trade, 2.1% versus 2.3% last month
  • PPI final demand MoM, 0.1% versus 0.0% estimate.  0.1% last month
  • PPI ex food and energy MoM, 0.3% versus 0.2% estimate. 0.2% last month
  • PPI ex food, energy, trade MoM 0.0% versus 0.2% estimate. 0.4% last month

The data is a little better than expectations. It will still not prevent the Fed from cutting rates at the July meeting.

The premarket for stocks are down a little lower

  • Dow is up 75 points
  • S&P, up 6.5
  • Nasdaq up 14.72 points

The S&P is looking to open above 3000 today a close above that level would be a record close for the index.  The Nasdaq and Dow closed at record levels yesterday.

THe US yields are marginally higher now after being down -1 to -2 bps earlier.

ForexLive

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