US producer prices rise more than forecast, dollar strengthens

  • by Ahmed Mamdouh
  • April 11, 2019, 16:43 AM
  • 2160 Views
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Producer prices in the United States rose more than forecasts in March, data released on Thursday showed, helping the dollar to widen its gains.  

The producer price index (PPI) saw a 0.6 percent increase last month, following a 0.3 percent soar in February. The year-on-year reading climbed to 2.2 percent from a previous of 1.9 percent.  

Core PPI showed a 0.3 percent surge, compared to both prior and excepted readings of 0.1 percent and 0.2 percent.

Another report from the U.S. showed a drop in initial jobless claims to 196,000 last week from a revised of 2014,000 a week before.

The dollar index strengthened to 96.74 from the session’s open at 96.51, set for the frist daily gain in four, as of 12:40 GMT.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at Ofeed.com, with 11 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from the American University in Cairo and a Bachelor Degree in Economics from the Faculty of Economics and Political Science, Cairo University.

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