The greenback was higher against the majors, edging up to just shy of the 90-level versus the yen and a 2 ½ month high against the euro. The US economic reports released this morning saw producer prices climb higher than anticipated with the headline figure up 1.8% in November from 0.3% in the previous month while the annualized figure reversed the previous year’s 1.9% decline, instead increasing by 2.4%. Core PPI climbed by 0.5%, larger than estimates for a 0.2% increase from a 0.6% decline a month earlier. The NY Fed manufacturing survey sharply missed estimates for an improvement to 24 in December from 23.51 in November, instead increasing by only 2.55. Industrial output for November improved to 0.8% from 0.1% while capacity utilization edged up to 71.3% from 70.7% a month earlier. Meanwhile, the NAHB housing market index missed calls for an increase to 18 from 17 in November, slipping to 16.Traders will shift focus to the FOMC monetary policy decision, due out tomorrow at 2:15 PM. A barrage of economic reports will also be released, consisting of November CPI, building permits, real earnings, housing starts and the Q3 current account balance.
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