US PPI and Fedspeak to dominate the news today

The US PPI data for the month of December will be released at 8:30 AM ET. Estimates show

• PPI Final Demand MoM estimate 0.3% versus 0.4% last month
• PPI Final Demand X food/Energy estimate 0.3% vs 0.2% last month
• PPI Final Demand YoY estimate 3.4% vs 3.0% last month
• PPI Final Demand ex food/energy est 3.8% versus 3.4

Last year, the PPI this month fell -0.1% hence the rise in the YoY. Looking ahead next month a rise of 0.3% and after that a rise of 0.6^ will drop out of the equation. Nevertheless, the numbers are not good numbers are not a good picture for the trend.

Fedspeak today includes. :

• FOMC Schmid (10 AM ET)
• FOMC Williams (3:05 PM ET)

At 2 PM the federal budget will be released for December with estimates of a deficit of $-75 versus $-367.00 billion last month.

This article was written by Greg Michalowski at www.forexlive.com.