U.S. July producer price index (annual rate) released: 4.7%

U.S. July PPI YoY hit 4.7%, beating expectations of 4.9% and prior 5.5%, signaling easing inflation and boosting bets on further liquidity easing.

The U.S. PPI year-on-year rate for July came in at 4.7%, lower than the expected 4.9% and the previous figure of 5.5%. This result deviated significantly from expectations, indicating easing inflation pressures. The market interpreted this as a possible further loosening of liquidity conditions, leading to adjustments in policy forecasts.