The US dollar strengthened yesterday against sterling as events elsewhere influenced worldwide markets. Also data from the US showed signs of economic improvement. The Producers’ Price Index from the country came out ahead of expectations, showing the biggest improvement since September 2012. This rise in prices paid to American factories hinted at a lower risk of deflation, bringing some positivity to the table.
Today is a busy one for US data, with plenty for investors to digest. First up will be a double release of data, consisting of the inflation figures (in form of the Consumer Price Index) as well as unemployment claims. These are two key areas for the economy. The other major data will be the Manufacturing Index from the Philadelphia Fed, but all of this will also be supported by numerous smaller releases which could provide extra weight to proceedings.
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