FXstreet.com (Barcelona) - The Dollar has gone trough choppy movement after weaker than expected U.S. PPI and Housing starts figures were released, with Dollar softening somewhat against its major rivals.
U.S. PPI has declined 0.6% from August to September, while it dropped 4.8% sin the last twelve months, a well larger decline than the -0.2% monthly and -4.1% yearly drop expected by the analysts. Excluding food and energy, the Core PPI Index edged down 0.1% in September, and rose 1.8% year on year.
Furthermore, U.S. housing Starts increased 0.5% in September to a seasonally adjusted annual rate of 590,000 units, too short of the 2.0% increase forecasted by market analysts.
The Dollar has been damaged by these figures immediately after PPI and housing data was released although it returned to previous levels shortly afterwards. EUR/USD bounced from 1.4970 to 1.4990 to return to 1.4970. GBP/USD rose from 1.6420 to 1.6455 and returned later to levels around 1.6440.
USD/JPY has declined from 90.55 breaking down to levels below 90.35/40 to reach 90.20 low moments after U.S. data was released. At the moment of writing, the Dollar moves around 90.25.