Crude oil markets continue to sell off, with the prospects of a Russia-Ukraine deal further sapping energy supply risk premia over the last sessions, TDS' Senior Commodity Strategist Daniel Ghali notes.
US citizens filing new applications for unemployment insurance rose to 213K for the week ending February 8, as reported by the US Department of Labor (DoL) on Thursday.
The Producer Price Index (PPI) for final demand in the US rose 3.5% on a yearly basis in January, the data published by the US Bureau of Labor Statistics showed on Thursday.
While yesterday’s release of stronger than expected US CPI inflation pushed back on Fed rate cut hopes and initially boosted the value of the USD, those gains proved to be short-lived, Rabobank's FX analyst Jane Foley notes.