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U.S. import and export prices return to upward trend in September

Published 10/13/2016, 08:31 AM
Updated 10/13/2016, 08:31 AM
© Reuters.  U.S. import and export prices rise in September

Investing.com - U.S. import and export prices increased in September after having slipped for the first time in half a year in the prior month, while export prices registered a surprise decrease for the first time in the same period, official data showed on Thursday.

In a report, the U.S. Bureau of Labor Statistics said import prices increased by a seasonally adjusted 0.1% last month, less than forecasts for a 0.2% gain. Import prices fell by 0.2% in August, in what had been its first decline in six months.

Export prices also rose by a seasonally adjusted 0.3% in September, compared to expectations for an increase of 0.1% and following a 0.2% decline a month earlier.

Immediately following the report, released simultaneously with weekly jobless claims, EUR/USD was trading at 1.1030 from around 1.1031 ahead of the data, GBP/USD was at 1.2192 from 1.2195 earlier, while USD/JPY was unchanged from 103.80 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 97.78 compared to 97.79 ahead of the report.

Meanwhile, U.S. stock futures pointed to a lower open. The Dow futures pointed to a decline of 109 points, or 0.61%, the S&P 500 futures indicated a drop of 14 points, or 0.65%, while the Nasdaq 100 futures lost 32 points, or 0.67%.

Elsewhere, in the commodities market, gold futures traded at $1,259.00 a troy ounce, compared to $1,257.09 ahead of the data, while crude oil traded at $50.09 a barrel from $50.13 earlier.

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