Previous Trading Days Events 16 Feb 2024

According to the PPI data releases on Friday, the U.S. producer prices increased more than expected in January amid strong gains in the costs of services, spreading fear that inflation is picking up after all these months of cooling. The increase was the largest in five months.

The aboveexpectations rise in consumer prices in January shift bets that the Federal Reserve would start cutting interest rates in June instead of May.

The Fed isnt losing the inflation fight, but they arent winning either, said Christopher Rupkey, chief economist at FWDBONDS in New York. The data are consistent, that January is a problematic month for inflation. There could be some seasonal adjustment problems as prices move up the most each year in the dead of winter.

Services increased 0.6, the largest rise since July 2023.

We would not dismiss strength in January services prices as a oneoff phenomenon, said Veronica Clark, an economist at Citigroup in New York. This upward pressure can continue, especially for sectors like medical services that still face tight labor markets.

Source httpswww.reuters.commarketsususproducerpricesrisemorethanexpectedjanuary20240216

Winners vs Losers

Silver XAGUSD remains on the lead with 2.46 gains last week. The USDCHF is on the top for the month with 2.14 gains so far.

News Reports Monitor Previous Trading Day 16 Feb 2024

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