US PPI 13:30 (LON) estimated to be roughly the same to slightly deflationary. This will surprise nobody, but the algos may well kick in if the actuals are much lower than estimated. On the off chance they are inflationary (Bernanke would welcome this as would most finmarkt players) there is absolutely no chance of the Fed wading in any time soon with an increase to rates.
Personally, I’ll more than likely be out of any currently open position by data release time. If the data come in on or around target, notwithstanding deflationary algos selling USD automatically, I’d fundamentally see no change. So if the algos do kick in you’d do OK buying on loss of downward momentum up to the level they blew down from. If the data comes in a lot lower then it should sell well and I wouldn’t play a regression back up this trading session. If it comes in higher (inflationary) it’ll be an ‘official’ surprise but not a grass roots one so any increase in strength should be muted.