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The latest producer prices data surprised to the upside in January. Data from the Labor Department showed that producer prices rose 0.5% in January. This comes after a 0.2% increase in December. The gains came despite a 0.7% decline in energy prices. Excluding food and energy, the core PPI was up 0.5% for the period.
December Eurozone Construction Output Falls
Weak economic data continues to plague the eurozone. The latest construction reports show that activity declined in December. The construction output fell 3.1% on a month over month basis in December. This follows a 0.7% increase in the prior month. The weak construction data remains consistent with other economic reports for the month.
Downside Bias Alive in EURUSD
The common currency continues to remain weak, albeit showing some signs of slowing momentum. Price action currently is consolidating right at the trend line with some downside bias in pl...
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