Import prices in the United States are likely to have risen during the month of October, following upward pressure from global energy prices. The October Labor Department import prices report will be released Tuesday, November 15 at 08:30EST (13:30GMT).
We expect import prices will increase 0.2 percent m/m in October, compared to the 0.1 percent m/m reading seen in September. The 0.1 percent m/m reading seen in September came alongside upward pressure seen from petroleum prices (1.2 percent m/m), dampened by an unchanged m/m result from industrial supplies.
On balance, alongside upward pressure seen from energy prices for the month we expect upward pressure in the headline measure of around 0.2 percent m/m, with some risks to the upside. Import prices increased 0.1 percent m/m in September, sponsored by upward pressure seen from food/beverages (0.6 percent m/m), petroleum prices (1.2 percent m/m), capital goods (0.1 percent m/m) and autos/parts (0.2 percent m/m).
This was supported by the unchanged m/m result from consumer goods and industrial supplies. In terms of trading partners, upward pressure was seen from Canada (+0.1 percent m/m), alongside an unchanged m/m reading from China.
The dollar index (DXY) was 0.19 percent lower at 99.92 at the time of closing on the New York Stock Exchange (NYSE), while at 7:00GMT the FxWirePro's Hourly Dollar Strength Index remained slightly bullish at 77.80 (higher than the benchmark of 75 for bullish trend).
Meanwhile at 7:00GMT, U.S.’s benchmark stock index, S&P 500 Futures was trading 0.14 percent higher at 2,164.00, while Nasdaq Futures were 0.04 percent higher at 4,696.50.
U.S. import prices likely to rise in October on upward pressure from energy prices
Import prices in the United States are likely to have risen during the month of October, following upward pressure from global energy prices. The October Labor Department import prices report will be released Tuesday, November 15 at 08:30EST (13:30GMT).
We expect import prices will increase 0.2 percent m/m in October, compared to the 0.1 percent m/m reading seen in September. The 0.1 percent m/m reading seen in September came alongside upward pressure seen from petroleum prices (1.2 percent m/m), dampened by an unchanged m/m result from industrial supplies.
On balance, alongside upward pressure seen from energy prices for the month we expect upward pressure in the headline measure of around 0.2 percent m/m, with some risks to the upside. Import prices increased 0.1 percent m/m in September, sponsored by upward pressure seen from food/beverages (0.6 percent m/m), petroleum prices (1.2 percent m/m), capital goods (0.1 percent m/m) and autos/parts (0.2 percent m/m).
This was supported by the unchanged m/m result from consumer goods and industrial supplies. In terms of trading partners, upward pressure was seen from Canada (+0.1 percent m/m), alongside an unchanged m/m reading from China.
The dollar index (DXY) was 0.19 percent lower at 99.92 at the time of closing on the New York Stock Exchange (NYSE), while at 7:00GMT the FxWirePro's Hourly Dollar Strength Index remained slightly bullish at 77.80 (higher than the benchmark of 75 for bullish trend).
Meanwhile at 7:00GMT, U.S.’s benchmark stock index, S&P 500 Futures was trading 0.14 percent higher at 2,164.00, while Nasdaq Futures were 0.04 percent higher at 4,696.50.


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