The U.S. released the producer price index for the month of January, where PPI rose by 0.8%, compared with the prior rise of 1.1% and in line with estimates, while compared with a year earlier, PPI rose by 3.6%, compared with 4.0% in the prior estimate and slightly above median estimates of 3.5%.

Core PPI rose by 0.5% above the expected and the prior estimate of 0.2%, while compared with a year earlier, core PPI rose by 1.6% higher than the prior and expected estimates of 1.3% and 1.2$ respectively.