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12 September

By Ahmed Mamdouh

Category: Forex News

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US producer prices miss forecasts in August

U.S. producer prices missed analysts’ forecasts in August, ahead of the consumer prices figures due on Thursday.

The producer price index (PPI) saw a 0.1 percent decrease last month, missing forecasts of a stall, following a 0.2 percent surge in July. The year-on-year reading showed a deceleration to 2.8 percent from a previous of 3.3 percent.

Core PPI also showed 0.1 percent decline, compared to both prior and excepted readings of 0.1 percent and 0.2 percent advance.

The dollar index is meanwhile trading slightly lower at 95.08, noting that it retreated from a high of 95.25, as of 12:47 GMT.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.