The U.S. Department of Trade has just released a report revealing the latest changes in the U.S. Producer Price Index (PPI). To be more specific, the index increased by 0,5% in June 2016 as opposed to 0.4% seen in May 2016.
Experts say that the acceleration of the positive dynamics has to do with higher gasoline prices as well as other energy prices. We feel like reminding you that the recent survey conducted by Bloomberg indicated a 0.3% increase over the reporting period against the forecast of 0.1%. The latest figures correspond to the strongest ones since December 2014.
At the same time, the U.S. Department of Trade reports that energy prices gained as much as 4.1% in June, which is the fastest pace of growth since May 2015. At the same time, gasoline prices got 9.9% higher over the same reporting period, the report says.
It also interesting to note that June’s PPI excluding energy prices and food prices gained 0.4% against the forecast of 0.1% and May’s 0.3% increase.
FOREX
The U.S. Dollar keeps on trading within the scope of the same long-term uptrend, Masterforex-V Academy reports. It is trading close to 96.72 at this point.
The closest major level of resistance is MF pivot 98,40 while the closest major levels of support can be found at MF pivot 93,027 and the bottom of the ascending MF sloping channel., the experts say.
