Article Highlights

  • US headline PPI 0.4% vs. 0.5% expected, -0.1% previous figure
  • US core PPI 0.3% vs. 0.1% estimate, 0.1% previous figure
  • US Empire State manufacturing index up from 1.0 to 12.5, higher than 3.2 consensus
  • Japanese tertiary activity index at 0.6% vs. 0.8% consensus, downward revision in previous figure
  • Australian employment down by 22.6K, jobless rate at 5.8%
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Data from the US economy came in mixed, with the core PPI and Empire State manufacturing index beating expectations and the headline PPI falling short. Overall, the results wound up positive for the Greenback, as risk aversion lingered in the markets.

Earlier today, Japan reported a weaker than expected tertiary industry activity index of 0.6% versus the estimated 0.8% increase. Aside from that, there was a downward revision from -0.7% to -0.9% in the previous figure. On the upside though, core machinery orders data came in stronger than expected at 9.3%, higher than the expected 1.2% increase.

Meanwhile in Australia, the jobs report churned out disappointing results and showed a 22.6K drop in hiring when analysts were expecting to see a 10.3K increase. Despite that, the jobless rate managed to hold steady at 5.8% and the previous month’s figure didn’t have any revisions. Nonetheless, the Australian dollar might get dragged lower in the rest of the trading sessions.

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