In the US session PPI and Unemployment Claims data was released. The Producer Price Index for final demand increased 0.1 percent in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices were unchanged in May and rose 0.5 percent in April. On an unadjusted basis, the final demand index advanced 2.0 percent for the 12 months ended in June. In June, almost 80 percent of the rise in the final demand index is attributable to prices for final demand services, which increased 0.2 percent. The index for final demand goods edged up 0.1 percent.
Separate report showed that in the week ending July 8, the advance figure for seasonally adjusted initial claims was 247,000, a decrease of 3,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 248,000 to 250,000. The 4-week moving average was 245,750, an increase of 2,250 from the previous week's revised average. The previous week's average was revised up by 500 from 243,000 to 243,500.
There will be no major data releases from Australia tomorrow. In the US session CPI, Retail Sales and Industrial Production figures will be published. Analysts predict 0.1% increase both in Retail Sales and Industrial Production, while Industrial Production should raise by 0.3%.
Figures to watch:
CPI (Friday 14:30)
Retail Sales (Friday 14:30)
Industrial Production (Friday 15:15)
