The world's largest economy released the inflation-linked producers' price index for February, reflecting more inflationary pressures on prices as the monthly index expanded in a slower than expected pace by 0.4% from the previous of 0.1%, missing median estimates of 0.5%.

Furthermore, the annual PPI index retreated to 3.3% from the previous 4.1% in line with expectations, while the monthly core PPI expanded as well in line with projections, recording 0.2% expansion, compared with the prior 0.2%.