Investing.com - Producer price inflation in the U.S. unexpectedly increased from a month before although core readings rose less than forecast, providing a mixed picture of inflationary pressures, official data showed on Thursday.
In a report, the Commerce Department said that producer prices increased 0.1% last month, beating the forecast for a 0.1% drop and compared to the flat reading seen in May.
Year-over-year, the producer price index (PPI) rose 2.0% in June, compared to expectations for a gain of 1.9% and following a 2.4% increase in the preceding month.
After the report, which was released simultaneously with weekly jobless claims, EUR/USD was trading at 1.1410 from around 1.1412 ahead of the release of the data, GBP/USD was at 1.2937 from 1.2935 earlier, while USD/JPY was at 113.14 from 113.22 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.50, compared to 95.47 ahead of the report.
Meanwhile, U.S. stock futures moved higher ahead of the market open. The Dow futures gained 0.05%, the S&P 500 futures traded up 0.12%, while the Nasdaq 100 futures rose 0.20%.
Elsewhere, in the commodities market, gold futures traded at $1,220.77 a troy ounce, compared to $1,219.41 ahead of the data, while crude oil traded at $45.42 a barrel from $45.45 earlier.