Trading The US Producer Price Index (PPI) (MoM) (Mar.)
The US PPI Data Month-on-Month for March, is due 8:30 AM ET Thursday. The Producer Price Index (PPI) is a major market catalyst. It measures the change in the Price of Goods Sold by Manufacturers. It is a leading indicator of Consumer Price Inflation, which accounts for the majority of overall inflation. A higher than expected reading should be taken as positive or bullish for the USD, while a lower than expected reading should be taken as negative or bearish for the USD.
Analysts are expecting soft data for March, forecasting a flat figure 0.0% as against the current 0.3%.
President Trump has commented that the Dollar is getting too strong. He is of the opinion that the Feds keep Interest Rates low and has indicated interest in retaining Janet Yellen as the Federal Reserve Chair after her current tenure is up in 2018.
Trump also mentioned that he offered China’s Xi a more favorable Trade Deal as barter for combatting North Korea. Regarding Syria however, yesterday’s meeting between the US and Russia in Moscow yesterday is still at a deadlock.