Home German inflation slides to 0.8% y/y as expected in July
Forex News Today: Daily Trading News

German inflation slides to 0.8% y/y as expected in July

No surprises: German inflation falls back down to 0.8%. June’s rise was just a bump. All the yearly and monthly numbers came out as expected.  Germany was expected to report a y/y inflation rate of 0.8% in both the Consumer Price Index (CPI) and the Harmonized Index of Consumer Prices (HICP). in the month of July.  Both indices  printed a y/y level of 1% in June. Month over month, CPI was expected to advance by 0.2% and HICP by 0.3%. The early releases from the various German states did not consist of any surprises.

Towards the publication, EUR/USD traded around 1.34 after dipping below this round number earlier in the day. The battle with this round number continues.

Update:

The low in EUR/USD has been 1.3394. Support awaits at 1.3325, followed by the November 2013 low of 1.3295. More levels, events and analysis in the EURUSD forecast.

Here is how the battle looks on the chart:

EURUSD battling 1 34 after the release of German inflation technical 30 minute chart

Also in the euro-zone, Spain reported an HICP of -0.3% y/y, contrary to expectations for a drop of only -0.1%. Deflation is already present in  the euro-zone’s fourth largest economy.

It’s a very busy day: US ADP Non-Farm Payrolls is up next and afterwards we have the US GDP.

More:

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.