Browse by Tags

The U.S. Department of Labor's seasonally adjusted core measure of producer price inflation grew well beyond expectations with a 0.7% month-over-month gain in July, much faster than the 0.2% gain seen in the previous two months. The all-items measure of producer price inflation soared 1.2% in the month, following an even faster 1.8% pace in the prior month.

The Bank of Canada's rate decision and semi-annual testimony from Fed Chairman Ben Bernanke are the main events of what is looking to be an action-packed Tuesday. Markets will also be treated to the Canadian new motor vehicle sales, U.S. PPI and the Empire Fed's manufacturing index.

According to strategists and economists, markets will be looking for some direction next week with the release of major economic reports. In the U.S., markets will receive PPI, CPI, retail sales, FOMC minutes and regional manufacturing reports on top of Fed Chairman Ben Bernanke testifying before Congress and the Senate. In Canada, markets will focus on the Bank of Canada's interest rate decision and monetary policy report.

The U.S. Labor Department's headline measure of producer price inflation grew at 1.1% in March, up from February's 0.3% gain and higher than forecasts for a 0.6% gain. The core measure of producer price inflation, which excludes cost increases in food and energy, edged up by 0.2%, in line with economists' calls for a 0.2% increase in the month.