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  • Annual HICP in Germany rose to 2% in March.
  • EUR/USD continues to trade in the negative territory below mid-1.17s.

Inflation in Germany, as measured by the Consumer Price Index (CPI), edged lower to 0.5% on a monthly basis in March from 0.7% in February. On a yearly basis, the CPI rose to 1.7% and both of those readings came in line with analysts’ estimates.

Further details of the publication revealed that the Harmonized Index of Consumer Prices (HICP), the European Central Bank’s preferred gauge of inflation, rose to 2% in March as expected.

Market reaction

The EUR/USD pair showed no immediate reaction to this report and was last seen losing 0.18% on a daily basis at 1.1740.