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
(report).
Housing Starts fell more than expected (report)
and Industrial Production growth exceeded estimates (report).
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.
Economic News
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)
For more reports and analysis go to our
Economic
News section.
Ashton Dorkins
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