Over the past 12 months, we’ve seen a 2.5% rise in adjustment wholesale prices.
That’s the highest year-over-year increase since Spring of 2012.
Friday’s PPI Report reflected a 0.8% increase in wholesale prices in June alone.
Friday’s release showed the biggest increase in wholesale prices since September 2012.
The spike is mainly because of gasoline prices according to the government. There was a 7.2% jump in the wholesale cost of gas.
Affect on the Forex Market
After a massive bullish bar on Tuesday, the EURUSD is falling and today’s good U.S. Dollar news could add to the already technically sound trade possibility of shorting the EURUSD.
More interesting news from the other side of the world: The Australian dollar broke less than 90 U.S. cents for first time since September 2010
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