Palladium declines under pressure from dollar and US inflation assessment
2023-08-11 14:24PM UTC

Palladium prices declined on Friday as the dollar gained ground against major rivals while markets assess latest US inflation data.


Government data showed US producer prices rose 0.3% in July m/m, above estimates of 0.2%.


Prices rose 0.8% y/y in July, after a 0.2% rise in June. 


Core producer prices rose 0.3%, surpassing estimates of 0.2%. 


Earlier data showed US consumer prices rose 3.2% y/y in July, below market estimates of 3.3%, and after a 3% increase in June, the slowest pace in 2-1/5 years.



Core consumer prices also slowed down to 4.7% in July from 4.8% in June, the fourth monthly drop in a row.


Such data mostly paves the way for no change in US monetary policies at the US Fed policy meeting in September. 


The Fed raised interest rates to 22 year highs in recent months in an efforts to control inflation and calm the markets. 


The dollar was up 0.2% as of 15:12 GMT to 102.7, with a session-high at 102.8, and a low at 102.4. 


On trading, palladium September futures fell 0.7% as of 15:13 GMT to $1,296.5 an ounce. 

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