News Story

U.S. Import and Export Prices Miss Forecasts in December

- U.S. import prices rose less than expected in December, while export prices unexpectedly fell, official data showed on Wednesday.

In a report, the U.S. Bureau of Labor Statistics said import prices increased by a seasonally adjusted 0.1% last month, compared expectations for a 0.4% rise. Import prices had risen by 0.8% in November, revised from an initial 0.7% advance.

Export prices fell by a seasonally adjusted 0.1% in December, compared to forecasts for a 0.3% gain. That followed a 0.5% advance a month earlier.

Following the report, EUR/USD was trading at 1.1993 from around 1.1994 ahead of the data, GBP/USD was at 1.3525 from 1.3526 earlier, while USD/JPY changed hands at 111.46 compared to 111.41 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 91.82, compared to 91.79 ahead of the report.

Meanwhile, U.S. stock futures pointed to a lower open. The Dow futures pointed to a decline of 92 points, or 0.36%, the S&P 500 futures indicated a drop of 9 points, or 0.34%, while the Nasdaq 100 futures lost 32 points, or 0.47%.

Elsewhere, in the commodities market, gold futures traded at $1,322.30 a troy ounce, compared to $1,323.60 ahead of the data, while crude oil traded at $63.48 a barrel from $63.49 earlier.

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