US core and headline PPI came in higher than expected in February.
On the negative side, Retail Sales from February and weekly Initial Jobless Claims came in lower than expected.
US Treasury yields rose to two-week highs.
The US Dollar Index (DXY) is currently trading at 103.36, up 0.55%, on Thursday. The Greenback got a boost following the release of hot Producer Price Index (PPI) figures, which triggered a rally in US Treasury yields. On the negative side, Retail Sales and Jobless claims figures came in soft.
Despite inflation in the US remaining sticky, expectations on the start of the easing cycle of the Federal Reserve (Fed) remain steady. Markets are discounting that the rate cuts will begin in June, but the focus will now be on the revised Dot Plot for the upcoming March meeting to gather additional evidence on the Fed’s stances.
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