Inflation is not totally asleep: producer prices rose by 0.8% in June more than 0.5% that was expected. Core PPI by 0.2%, as expected.
The dollar is a bit stronger following the publication. USD/JPY is at 99.60 and EUR/USD is sliding around 1.30.
This is not a very important figure at the moment, but it supports the rising dollar, which continues its comeback. The consumer price index carries more weight.
AUD/USD made a dramatic dip below the double bottom and just below 0.90 before bouncing back up.
Later, the University of Michigan will release the initial consumer sentiment estimate. It is expected to rise from 84.1 to 85.3 points.
See how to trade the consumer sentiment with EUR/USD.
