The U.S. released the producer price index for the month of June, where PPI slashed by 0.4%, compared with the prior rise of 0.2% and worse than the projected drop by 0.2 while compared with a year earlier, PPI rose by 7.0%, compared with 7.3% in the prior estimate and slightly below median estimates of 7.4%.

Core PPI rose by 0.3% above the expected and prior estimate of 0.2%, while compared with a year earlier, core PPI climbed by 2.4% higher than the prior 2.1% and expected estimates of 2.2%.