Import Price Index m/m comes in at -0.4% against -0.1% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The US Import Price Index month over month for August came in at -0.4%. This figure was below the consensus expectation of -0.1%, representing a -300.0% surprise against the forecast. The previous month’s reading was 0.3%.
Following the release, market reaction across major USD pairs and Gold has been relatively subdued so far. Fifteen minutes after the data, AUDUSD moved -0.3 pips, EURUSD moved +0.4 pips, and GBPUSD moved +0.8 pips. NZDUSD saw a +0.2 pip change, while USDCAD moved -1.3 pips. USDCHF registered a -0.1 pip change, and USDJPY moved +0.9 pips. XAUUSD, or Gold, saw a -36 pip move after 15 minutes. These initial movements are small when compared to the median 1-hour moves observed after past Import Price Index releases, which typically range from 6 pips for NZDUSD to 25 pips for XAUUSD.