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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
JAPAN DATA
Japan's October PPI surprised modestly on the downside. We fell -0.4% in the month, versus flat expected (the prior was -0.2%). In y/y terms the print came in at 0.8% against a 0.9% forecast (and 2.2% prior). At face value, the data suggests more downside momentum to headline CPI in the coming months.
- In terms of the detail, m/m drags came from petroleum & coal (-5.1%), while other commodities were weaker in terms of iron & steel, along with metals. Agricultural products were also a drag.
- In y/y terms, the majority of categories saw either softer momentum, or further weakness relative to the September outcome.
Fig 1: Waning PPI Momentum Points To Softer CPI Prints
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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