The US Producer Price Index (PPI) for June showed a year-over-year increase of 2.3%, falling short of the anticipated 2.5%. Similarly, the Core PPI, which excludes food and energy, rose by 2.6% compared to the expected 2.7%. This cooling in producer inflation may influence the Federal Reserve's monetary policy, potentially leading to rate cuts. The data is seen as bullish for risk assets, as lower inflation could support more accommodative financial conditions.