EUR/USD: US PPI
The European Single Currency depreciated against the US Dollar, following the US PPI data release on Wednesday at 12:30 GMT. The EUR/USD exchange currency rate lost 5 pips or 0.04% during a minute, right after the release. The European Single Currency kept going upwards after the data release to continue trading at the 1.1505 area.
The Bureau of Labor Statistics released US PPI data that came out in line with expectations of 0.2%.
"The Producer Price Index for final demand increased 0.2 percent in September, as prices for final demand services rose 0.3 percent, and the index for final demand goods decreased 0.1 percent. The final demand index advanced 2.6 percent for the 12 months ended in September." the U.S. Bureau of Labor Statistics announced on Wednesday.
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