US demand still keeps a low profile, for today it became clear the Producer Price Index during April fell by 0.7%, compared to March 2013. This monthly drop of indicators value turned out to be the greatest since February 2010. Current decline of the index was driven mostly by decreased prices of energy products, which dropped by a monthly 2.5%. Energy products became cheaper worldwide due to low demand and concerns, regarding increased oil production in United States, to boost the global shipments in the coming years.
Energy prices fell as a result of a 6% dip of gasoline prices during April.
Experts express suggestions that lower inflationary pressure could be enough for Federal Reserve Bank to continue its policy of growth support by pouring billions of dollars monthly into US economy.
After the release of producer prices data, EUR/USD cross sunk to levels around 1.2844-47, but later regained some ground, reaching 1.2871-79.
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