The U.S. released the producer price index for the month of June, where the PPI declined by 0.5%, compared with the prior reported drop of 0.3% and below median estimates of -0.1%, while compared with a year earlier, PPI rose by 2.8% below the prior reported estimate of 5.3% and median estimates of 3.1%.

Core PPI rose by 0.1% in line with median estimates and down from 0.2% reported in May, while compared with a year earlier, Core PPI rose by 1.1% also in line with expectations and down from 1.3% reported previously.