Published: 2/15/2018 11:29:00 AM
The EUR/USD is trading in a narrower range below the $1.2500 line. It had already reached a high of $.12510 earlier in the day, extending the gains seen on Wednesday.
The US Producer Price Index rose by 2.7% YoY, above 2.2% that had been expected. Core PPI advanced by 2.2% YoY. The Philly Fed Manufacturing Index increased to 25.8, above 21.1 that had been projected while the parallel figure from New York, the NY Empire State Index fell short of forecasts with a score of 13.1 points. Weekly Jobless Claims stood at 230K, within projections.
Later on, the US Industrial Output disappointed with a fall of 0.1% MoM, below expectations for a rise.
On Friday, the US will release Housing Starts, Building Permits, and the preliminary Michigan Consumer Sentiment Index.
US 10-Year Treasury Bond yields dropped to 2.891% after reaching four-year highs. Shares on the S&P500 Index are balanced on the day, shedding the gains seen earlier.
The high of the day is $1.2510. A breakout would open the door to $1.2524 (the top on February 1st) and then $1.2537 (the 2018-high seen on January 25th). On the downside, 1.2448 is the low of the day. A break would open the door to $1.2350 (early February low) and 1.2206 (February 9th low).
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