Forex news for NY trading on March 14, 2017
A snapshot of other markets near the end of the trading day
– Spot gold down anther -$6.00 or -0.51%. The price is back below the $1200 level to $1197.88
US PPI was higher than expectations today. It rose by 0.3% MoM both for the headline and the core (vs +0.1% and +0.2% est). The YoY increase of 2.2% was the highest since March 2012. Although producer prices are not the most followed of inflation measures, they are showing a positive trend and could lead to higher consumer prices down the road (or so the theory goes). Tomorrow the US CPI data will be released with the headline expected to come in unchanged, while ex food and energy estimated at +0.2% Also released tomorrow will be the Real Avg weekly and hourly earnings YoY. last month they came in at -0.5% and +0.1% respectively. Those numbers caught the markets attention. Retail sales will also be released with expectations of +0.1% for the headline and +0.2% ex auto and gas. ALL that comes before the FOMC decision tomorrow at 2 PM ET (1800 GMT), followed by the Fed Chairs press conference at 2:30 PM ET (1830 GMT). The Fed is largely expected to raise rates by 0.25%. For a preview, sees Adam’s
Forexlive Americas forex news wrap: US dollar rallies modestly as data and Fed awaited.
