Trade Desk Thoughts - German Import Prices

German Import Prices Actual 0.6%, Expected 0.5%, Previous 1.5%

Release Explanation: The release measures the change in the price of goods purchased by importers.

Trade Desk Thoughts: In July, the German import prices rose to 0.6%, subsequent to the record pace it rose in the previous months of 2.4% in May and 1.5% in June. The released number of 0.6% is slightly bigger than analyst expectations of 0.5%. 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 started, the pair has gained 50 pips.

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