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US PPI hotter than forecast- EUR/USD hits fresh session lows near 1.0375
The January US PPI report has just been released. The markets were expecting a lower annualised reading for last month. That forecast was for 3.3% and it has risen to 3.5%. The monthly reading was higher too, at 0.4%. The latest weekly claims number are also better than forecast, at 213k. The dollar has risen immediately on all this news. The USD/JPY has pushed back above 154 and the EUR/USD has fallen to fresh session lows around 1.0375 and it remains to be seen if these moves will extend. It is right now at 1.0386
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