US August PPI, "terrifying data," exceeds expectations, causing the dollar and US bond yields to rise.
After the data was released, US stock index futures dipped slightly, currently up around 0.2%; the US dollar index rose more than 30 points in the short term, and US bond yields climbed slightly.
On Thursday, the US released retail sales data and the PPI report for August.
The data shows that the US PPI and retail sales in August exceeded market expectations, further fueling expectations of a Fed rate hike.
US PPI in August Exceeds Expectations
US PPI YoY in August was 1.6%, higher than the expected 1.2% and the previous value of 0.80%.
US PPI MoM in August was 0.7%, higher than the expected 0.40% and the previous value of 0.30%.
US core PPI YoY in August was 2.2%, in line with the expected 2.20% and the previous value of 2.40%.
US core PPI MoM in August was 0.2%, in line with the expected 0.20% and the previous value of 0.30%.
US core retail sales MoM in August increased by 0.6%, higher than the expected 0.40% and the previous value of 1.00%.
US retail sales MoM in August increased by 0.6%, higher than the expected 0.2% and the previous value of 0.70%.
The initial jobless claims for the week ending September 9th in the US were 220,000, lower than the expected 225,000 and the previous value of 216,000.
US Dollar Rises, Treasury Yields Increase
The US Dollar Index (DXY) rose by 0.5% during the day, gaining more than 30 points in the short term, and is currently at 105.30.
