USDJPY – Down
USDJPY trading plan:
U.S. producer prices increased by the most in more than a year in August as the cost of gasoline surged, the latest indication that the road to low inflation would be uneven. The producer price index for final demand rose 0.7% last month, the largest gain since June 2022, the Labor Department said. Data for July was revised slightly up to show the PPI advancing 0.4% instead of the previously reported 0.3%. Wholesale goods prices jumped 2.0% last month, with a 20.0% surge in gasoline accounting for 60% of the increase. Goods prices rose 0.3% in July. Food prices fell 0.5% last month. Excluding the volatile food and energy components, the so-called core goods prices nudged up 0.1% after being unchanged in July. The cost of services increased 0.2% after rising 0.5% in July. They were lifted by a 1.1% increase in residential real estate services. The cost of moving goods by road increased as did machinery, equipment, parts and supplies wholesaling. There were also increases in the costs securities brokerage and dealing as well as residential real estate loans.
Investment idea: buy 147.50 and take profit 148.20.
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