US Dollar Stays Unstable After Weak PPI Data
The situation on the financial markets has not changed practically. The Japanese yen remains the strongest major currency. The US dollar is trading lower in the early US session, after weak data on the producer price index (PPI). The New Zealand dollar remains the weakest.
The producer price index in the US fell by 0.1% mom in July. The annual rate of the PPI slowed to 1.9% yoy. Initial jobless claims in the US increased by 3k to 244k for the week ending August 5. Continuing claims fell by 16k to 1.95m in the week ended July 29.
The British pound is in a narrow range against the euro after mixed economic data. The UK industrial production grew by 0.5% mom, 0.3% yoy in June. Construction output fell by 0.1% mom in June. The UK trade deficit widened to GBP -12.7b in June.