Published: 2024-03-14T12:42:00.000Z
USD flows: USD firmer after data, but...

Senior FX Strategist
2
USD firms on higher PPI and lower claims, but weaker retail sales mean data is mixed
US data on balance slightly on the strong side of expectations, with PPI up 0.6% in February, and initial and continuing claims both falling, although retail sales came in weaker than expected, with January also revised lower. Core PPI was also only modestly above consensus at 0.3% m/m, so although US yields have edged up and the USD has rallied modestly, we wouldn’t expect any followthrough, and the initial move may be quickly reversed.