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11 July

By Ahmed Mamdouh

Category: Forex News

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US producer prices beat forecasts in June

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

The producer price index (PPI) saw a 0.3 percent increase last month, above forecasts of 0.2 percent rise, following a 0.5 percent surge in May. The year-on-year reading showed an acceleration to 3.4 percent from a previous of 3.1 percent.

Core PPI showed 0.3 percent soar, compared to both prior and excepted readings of 0.3 percent and 0.2 percent advance.

The dollar index is meanwhile trading slightly higher at 93.98, noting that it retreated from a high of 94.19.

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.