Previous Trading Days Events 12.07.2024

U.S. producer prices increased slightly more than expected in June amid a rise in the cost of services, but that did not change expectations that the Federal Reserve could start cutting interest rates in September.

There does not appear to be much inflation pressure percolating on the factory floors that might affect the prices that consumers pay at the shops and malls, said Christopher Rupkey, chief economist at FWDBONDS.

The producer price index for final demand rose 0.2 last month after being unchanged in May. In the 12 months through June, the PPI increased 2.6. That was the largest yearonyear gain since March 2023 and followed a 2.4 advance in May.

PCE inflation was forecasted to have edged up 0.1 in June after being unchanged in May. Estimates for the core PCE price index converged around a 0.15 rise. Core inflation ticked up 0.1 in May. Both PCE and core inflation were seen increasing 2.5 yearonyear in June after rising 2.6 in May.

Source httpswww.reuters.commarketsususproducerpricesrisemoderatelyjune20240712

Winners vs Losers

Metals have moved significantly upwards, early at the start of this week with Silver XAGUSD gaining 1. It is also leading this month with 6.28 gains so far. 

News Reports Monitor Previous Trading Day 12.07.2024

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Midnight Night Session Asian

No important news announcements, no important scheduled releases.

Morning Day Session European and…