Flash CPI inflation data for August from Germany was released at 1:00 pm BST today. Market expected headline gauge to accelerate from 7.5 to 7.8% YoY. Instead, actual report showed consumer price growth accelerating to 7.9% YoY. On a monthly basis CPI inflation reached 0.3% MoM (exp. 0.4% MoM). However, the reading was not surprising as partial data from German states released earlier in the day pointed to acceleration in price growth. Overall, the reading does not change much in terms of outlook for ECB policy moves.
-
North Rhine Westphalia: 8.1% YoY vs 7.8% previously
-
Hesse: 8.0% YoY vs 7.6% previously
-
Bavaria: 8.4% YoY vs 8.0% previously
-
Brandenburg: 7.9% YoY vs 7.6% previously
-
Saxony: 7.3% YoY vs 7.2% previously
EURUSD barely experienced any reaction to the German data as state-level reports strongly hinted at higher-than-expected price growth in the largest European economy. The main currency pair attempted to break above a short-term 0.9980-1.0028 trading range earlier today but a break is yet to come as EURUSD struggles at the upper limit orange circle).
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
