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USD/JPY catches a bid on better sales data as PPI gets ignored for now
The US October PPI and Retail Sales reports have just been released. The Retail sales data was slightly better than forecast, only falling by 0.1% last month. The PPI data was down 0.5% on the month, which was way below consensus and the annualised rate fell to 2.4% from 2.7%. The Empire manufacturing index was better than forecast too. This has seemingly helped the dollar to rebound and so far the US currency has seemingly ignored the lower PPI print. The US equity futures have not lifted on this news, but then of course they were well elevated ahead of the releases. The USD/JPY was trading at around 150.30 ahead of the numbers. It has lifted to above 150.50 subsequent to it. The USD/JPY is now trading at 150.60
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