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Euro-area PPI Fell The Most On Record In October

Published 12/31/2000, 07:00 PM
Updated 12/02/2008, 05:20 AM

Release Explanation: The PPI measures the rate of inflation of manufacturers when purchasing Goods and Services; the rate of Inflation at the factory Gate. An increase in the price of raw Goods and services usually gets passed on to the consumer, therefore this is the first stage on Retail Inflation.

Trade Desk Thoughts: The Euro-area PPI shows that the pace of inflation is starting to slow at a strong pace. The released number of -0.8% was much larger than analyst forecasts. The number released for the month of September was revised lower, to -0.3%.

As has been the case during the last few months, the majority of sub-indexes fell slightly, except for the energy index, which tumbled 2.0% in October, from one month earlier. Year over year, producer inflation in the Euro-area was up 6.3%, with the largest increases in the energy index, which rose 15.8% since last year

Forex Technical Reaction: The euro traded, during the overnight sessions, between TheLFB S1 (1.2560) and the neutral pivot point (1.2635). Currently, the euro is once again testing the resistance area.

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