Import Price Index m/m comes in at 0.7% against -0.5% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The US Import Price Index month over month for September came in at 0.7%. This figure significantly exceeded the consensus expectation of -0.5%. The prior month’s reading was -0.4%. The actual print represented a 240.0% surprise compared to the consensus forecast.
Following the release, market reactions were observed across several pairs. EURUSD moved +5.5 pips and GBPUSD moved +7.7 pips within 15 minutes. XAUUSD saw a move of +44 pips in the same timeframe. Other pairs showed smaller movements. AUDUSD moved -0.6 pips, NZDUSD moved -1.5 pips, USDCAD moved +0.9 pips, USDCHF moved -1.9 pips, and USDJPY moved -0.1 pips. For context, the median 1-hour move for XAUUSD after past releases has been 25 pips, while for EURUSD it has been 11 pips and for GBPUSD it has been 12 pips. The moves in AUDUSD, NZDUSD, USDCAD, USDCHF, and USDJPY were small relative to their typical median 1-hour moves of 7 pips, 6 pips, 9 pips, 8 pips, and 10 pips respectively.