PPI Data Sends Bonds Higher, Dollar Lower
The markets were focused on
today’s inflation data. Wholesale Prices,
as measured by the PPI jumped on higher energy costs
The news sent Treasuries higher and the US Dollar lower as traders interpreted
the data to signal the Fed may be able to pause or stop raising rates.
Gold staged a mild recovery after yesterday’s massive selloff. Silver closed
flat and Copper ended the session where it closed last week.
Crude Oil futures closed flat after a sharp two-day decline. Natural Gas bounced
from yesterday’s fresh contract lows.
PPI Up 0.9% For April; Core PPI Higher By 0.1% (report)
Housing Starts Down 7.4% To Rate Of 1.849 Mln. Units (report)
Industrial Production Up 0.8% In April (report)
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