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USD/JPY trading lower heading into the July US PPI report due at 12.30pm GMT
The July US Producer price index (PPI) will shortly be released, at 12.30pm GMT. This data can certainly have an impact across the markets, if it is wide of the mark in either direction. That can encompass the dollar and stocks. Today the markets are expecting the core annualised rate of PPI to fall back to around 2.7%, from 3% reported in June. The USD/JPY will once again be very much front and centre of any market reaction to this data. Now ahead of this data the USD/JPY has fallen back to below 147.50 after earlier stalling just ahead of the 148 handle. The low since the high (147.95) has been set at 147.32. That fall was all due to a number of headline concerning the situation in the Middle East and a slight degree of risk aversion those headlines seemed to produce. The USD/JPY is currently trading at 147.43
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