EUR/USD Signal Closed In Profit After The US PPI Report

Written by: Skerdian Meta • Thursday, July 13, 2017 • 1 min read

• Last updated: Thursday, July 13, 2017

In our last update, we mentioned that the PPI (producer price index) report would do more harm to the USD if it was negative than good, had it been positive.

With this assumption in mind, we opened a buy forex signal in EUR/USD and we´re glad to see it closed in profit a while ago.

As we mentioned, the upward pressure on producer prices has a lesser effect on consumer inflation (CPI), while downward pressure tends to have a greater impact.

So, chances were that we would see EUR/USD climb higher if the PPI numbers missed expectations.

We took our chances and ended up with a handful of pips from our EUR/USD signal. The monthly PPI figures were sort of mixed – the headline PPI number beat expectation by a decimal point, while the core inflation number missed by a decimal point.

Yet, the Buck lost a few pips against the Euro and GBP. The negative impact on USD was bigger, but it was in our favor, so we cashed in.

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ABOUT THE AUTHOR See More

Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.