The headline US Producer Price Index (PPI) rose at an annual pace of 9.7% in January, according to the latest report from the US Bureau of Labor Statistics on Tuesday. MoM, PPI came in at 1.0% in January, well above expectations for a 0.5% MoM gain. Core PPI metrics were also significantly hotter than expected, with the YoY rate falling less than expected to 8.3% in January from 8.5% the month prior against forecasts for a decline to 7.9% and the MoM rate rising to 0.8% from 0.6% in December, well above the expected 0.5% gain.<\/p>\n\n\n\n
Gold fell this morning due to the retreat of some Russian forces from their border positions in a strategic move indicating the possibility that negotiations would win and that a Russian invasion of Ukraine would not occur, which damaged the morale of commodities, especially gold and oil.<\/p>\n\n\n\n
Gold fell more than 1% to trade at 1851.75, down by 1.03%, as well as silver fell by 2.63% to trade at 23.22.<\/p>\n\n\n\n
Crude oil fell 2.52% to trade at $93.08 a barrel, as well as Brent crude fell by 2.33% to trade at $94.21 a barrel.<\/p>\n\n\n\n
The US dollar index is also down 0.3% to $96.08 against a basket of foreign currencies.<\/p>\n\n\n\n
US Treasury yields rose by 1.85% to 2.033%.<\/p>\n\n\n\n
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<\/p>\n","protected":false},"excerpt":{"rendered":"
The headline US Producer Price Index (PPI) rose at an annual pace of 9.7% in January, according to the latest report from the US Bureau of Labor Statistics on Tuesday. MoM, PPI came in at 1.0% in January, well above expectations for a 0.5% MoM gain. Core PPI metrics were also significantly hotter than expected, …<\/p>\n","protected":false},"author":9,"featured_media":52585,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[6928,6911,6864,6837],"class_list":["post-60253","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-euro","tag-europe","tag-european-stocks","tag-eurozone"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=60253"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60253\/revisions"}],"predecessor-version":[{"id":60254,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60253\/revisions\/60254"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52585"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=60253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=60253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=60253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}