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<p>I warned this might happen.</p><p><a href="https://www.forexlive.com/news/us-november-ppi-74-vs-72-yy-expected-20221209/" target="_blank" rel="follow">US PPI</a> was hotter than expected and the US dollar jumped around 75 pips across the board initially. Since then, it's given back most of the gains.</p><p>At the end of the day, PPI is still PPI. It's a second-tier indicator that doesn't always offer a hint at what's coming for CPI. It tells you mostly about commodity prices and we can see what's happened to them (especially oil) since the end of November.</p><p>The spike and then fade was precisely what happened last month and before the report I <a href="https://www.forexlive.com/news/dont-sleep-on-todays-us-ppi-report-20221209/" target="_blank" rel="follow">wrote </a>this:</p><blockquote>The big move after last month's report was subsequently faded so that's a
 good bet to be the playbook again if there's a sizeable market move.</blockquote><p>Keep this playbook in mind next month.</p>

                This article was written by Adam Button at www.forexlive.com.