US PPI up by 0.5%
The Producer Price Index for final demand increased 0.5 percent in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices rose 0.4% in May and 0.2% in April. On an unadjusted basis, the final demand index advanced 0.3% for the 12 months ended in June, the largest 12-month increase since moving up 0.9% in December 2014.
Separate report showed that the number of applications for U.S. unemployment benefits last week held at the lowest level since mid-April, further evidence of a strong labor market. Jobless claims were unchanged at 254,000 in the week ended July 9, according to a Labor Department report released Thursday.The median estimate in a Bloomberg survey called for filings to increase to 265,000. In April, applications dropped to a four-decade low of 248,000.
Euro is currently being traded few points above 1.1130 area, Sterling is at 1.3330 level, while Aussie is around 0.7630 level.
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