News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
German Inflation Confirmed at 18-Month Low

German Inflation Confirmed at 18-Month Low

Benjamin Spier, Technical Strategist

THE TAKEAWAY: German annual inflation confirmed at 1.7%, 18-month low -> Euro drops to new 2-year low after yesterday’s finance ministers’ meeting

German annual inflation was confirmed to have fallen to its lowest rate since the end of 2010, reaching 1.7% during the month of June. The consumer price index dropped 0.1% in June, making it the second month in a row of declining prices, according to the German Federal Statistics Office.

Energy prices were up 4.0% when compared to June 2011, while food prices were up 3.6%, other areas of household consumption saw an average of a 1.1% annual inflation.

Today’s CPI release confirmed provisional price estimates made at the end of June, and therefore did not affect Euro trading. Yesterday, EURUSD declined to a new 2-year low at 1.2234, following news that European finance ministers failed to deliver any significant results relating to bank recapitalization in their meeting this week. Support can be seen by the 50% Fibonacci expansion from May’s high to the June’s low.

German_Inflation_Confirmed_at_18-Month_Low_____body_eurusd.png, German Inflation Confirmed at 18-Month Low

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.