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Mixed US Producer prices (PPI) send stock futures higher-check out the S+P 500

The US March Producer Price Index (PPI) has just been released. As noted here earlier today, the markets were looking for an increase in the non-core and core annualised readings last month. Well, that is not quite what we got. The annualised rate rose to 2.1% and the core rate rose by 2.4% . That core was actually above consensus, but it has not helped the dollar. The EUR/USD is now rebounding towards 1.0740, which does not make that much sense. Just ahead of this data the US stock market futures were still nearer to session lows, than they were to earlier session highs. The impact of this data has served to push them all higher just now. The S+P 500 was pricing an opening to as low as 5,135. It is now pricing it at 5,160. 

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