This morning the dollar is still weak against both sterling and the euro.
The cost of living in the US seems to be on the rise as prices continue to change. PPI MoM is forecast at 0.4% as goods prices jumped 2.4% in May (with over half of the increase due to an 18.5% rise in gasoline prices). The data will be released this afternoon.
Data on jobless claims will also be released this afternoon. In July, the The number of Americans filing for unemployment benefits exceeded market expectations of 259,00, and rose by 6 thousand to 260,000. Today the number is expected to fall by 2 thousand to 258,000, suggesting more economic optimism in the pipeline.
