• US Dollar retreats after reaching its highest level after labor and inflation data.
• US citizens filing new applications for unemployment insurance last week arrived below expectations.
• The headline PPI for October came in at 2.4%, higher than expected.

The US Dollar Index (DXY), a measure of the value of the USD against a basket of six currencies, softened after hitting a fresh year-to-date high near 107.00. The Greenback has been on a rise in recent days, but profit-taking and disappointing US economic data have led to a slight retracement. The headline Producer Price Index (PPI) for October came in at 2.4% YoY, above expectations of 2.3%, and the PPI excluding Food and Energy rose to 3.1% YoY, also arriving above forecasts. 

Additionally, US citizens filing new applications for unemployment insurance was reported at 217K for the week ending November 9, which came in below expectations of 223K. .