Trade Desk Thoughts - German Import Prices
Trade Desk Thoughts - German Import Prices
German Import Prices Actual -0.8%, Expected -1.0%, Previous 0.6%
Release Explanation: The release measures the change in the price of goods purchased by importers.
Trade Desk Thoughts: In August, German import prices fell to -0.8%, subsequent to the record pace it has risen in previous months. The released number of -0.8% is slightly smaller than analyst expectations of -1.0%. From August 2007, the index rose to 9.3%, as much as in July, when the index rose 9.3% year-over-year, the highest rate since 2000. Eventually, these higher prices will affect the CPI read, showing inflation is still a problem in Germany.
Forex Technical Reaction: The euro had a weak reaction to the news release, moving less than 10 pips. Since the Asian session opened the pair has moved flat
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