Firms said they expected domestic prices to rise and export prices to fall a little.
Chinese exporters must have lowered their Yuan-denominated prices to keep their export prices steady.
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Also on Tuesday, we get the report on business inventories, followed by import and export prices on Wednesday.
June retail sales, June import and export prices, and May business inventories data will be released on Wednesday.
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The devaluation of currencies allows other Asian countries to cut export prices, especially in plastics and synthetic fibres.
If China's prices start to rise, then its export prices start to rise, and that might trigger global inflation.
This week the calendar is pretty light with retail sales, import, and export prices, as well as business inventories on Wednesday.
Tuesday will feature July housing starts and building permits, July industrial production and capacity utilization, and July import and export prices.
Even as weak commodity prices depress export prices, sluggish demand growth in the rich world may limit emerging economies' export volumes.
Ample supplies of wheat and rice helped to keep the index, which tracks export prices, 10% below its peak in February 2011.
Import and export prices will be out Wednesday, and Bernanke is also testifying in front of the House Financial Services Committee that day.
Even in a world like that, though, sooner or later the very development it brings about will put upward pressure on export prices.
Growth is expected to resume over the coming three months, although firms expect both domestic and export prices to rise over the same period.
Import prices rose 1.4% and export prices rose 1.2% in February, each rising by an extra tenth of a percentage point from the month before.
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None is likely to benefit if export prices continue to drop.
Governments cannot use the exchange rate to help the economy adjust to outside shocks, such as a fall in export prices or sharp shifts in capital flows.
This week the economic calendar is very light, with the jobless claims Thursday, followed Friday by the international trade numbers as well as import and export prices.
U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, import and export prices, gross domestic product, and the weekly DOE energy stocks report.
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The assumption of the Peterson paper is that currency interventions are undertaken by foreign governments to suppress domestic currency values in order to render export prices more competitive.
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In a statement on Tuesday, central bank governor, Glen Stevens, said the dollar remains "higher than might have been expected" given lower export prices and a weaker global outlook.
U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, import and export prices indexes, the weekly DOE energy stocks report, and the Treasury budget statement.
U.S. economic data due for release Thursday includes the weekly jobless claims report, import and export prices, international trade in goods and services, and the weekly DOE energy stocks report.
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That is because the devaluation of East Asian currencies has led to a drop in export prices, especially in plastic and fibres, which threatens to edge out Indian exporters in particular.
U.S. economic reports due for release Wednesday include the weekly MBA mortgage applications survey, import and export prices, the weekly DOE energy stocks report, the monthly Treasury budget statement, and the FOMC decision.
U.S. economic data due for release Tuesday includes retail sales, the NFIB small business optimism index, import and export prices, the Goldman Sachs and Johnson Redbook retail sales reports, and manufacturing and trade inventories.
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Most of the economic data will be published on Friday, when we will see September retail sales, the preliminary October University of Michigan consumer confidence survey, September import and export prices and August business inventories.
U.S. economic data due for release Tuesday includes the weekly Goldman Sachs chain store sales index, new residential construction, import and export prices, the weekly Johnson Redbook retail sales report, and industrial production and capacity utilization.
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Even though Chinese export prices are up 10% from a year ago, the sizable protectionist coalition in Congress is bent on imposing potential tariff penalties for alleged currency misalignment in a vote scheduled in the Senate today.
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That reduction in cost can be passed on to foreign consumers in the form of lower export prices, which could mitigate entirely the intended effect of the currency adjustment, which is to reduce U.S. imports from China.
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U.S. economic data due for release Tuesday includes the NFIB small business index, the weekly Goldman Sachs chain store sales index, import and export prices, the weekly Johnson Redbook retail sales report and the monthly Treasury budget statement.
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