The dollar rallied against other major currencies as the business day came to a close yesterday. This was due to the latest ISM services figures beating market expectations.
America’s latest Producer Price Index is forecast to rise gently to 0.3% in Thursday’s data release. In the previous month, PPI for final demand in the US rose 0.2% month-over-month and was below market forecasts of 0.4%. The breakdown revealed that goods cost went up 0.6% which was the largest advance since a 2.2% rise in June. The increase was mainly pushed by a 5.7% jump in gasoline costs.
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