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.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Oil - US Crude
Mixed
Bitcoin
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The $NZD marked a bearish reversal off key resistance last week and the focus is on confluence support just above the 63-handle. Get your NZD/USD market update from @MBForex here: https://t.co/RXquIJp1L8 https://t.co/FvgpW9pQi5
  • #Crypto update: $BTC -3.48% $BCH -1.53% $XRP -2.70% $LTC -2.21% $ETH -1.94%
  • Hmmmm... I thought the Administration could only defer it once. They will need to make this decision very soon as deadline is Thursday, and this would be an enormous escalation in the trade war https://t.co/IUbJzYjLIH
  • President Trump is expected to delay auto tariff decision for 6 more months according to Politico $DAX $SPX
  • President Trump is expected to delay auto tariff decision for 6 more months according to Politico $DAX $SPY
  • The IG Client Sentiment Report details changes in trader positioning and provides insight on a market's bullish or bearish bias Full Report: https://www.dailyfx.com/sentiment-report https://t.co/SeyIxrpJ5m
  • Retail CFD traders have ramped up the contrarian position behind gold. Long exposure is the highest in a long time and net longs the highest before markets broke higher in June https://t.co/Ramizg18ur
  • Sterling was little changed on the release and remains above 1.2800 against the US dollar for now. Where is $GBPUSD heading? Get your market update from @nickcawley1 here: https://t.co/wyExtLyBcu https://t.co/HfjJns4UbN
  • The @DailyFX Economic Calendar is jam-packed for the rest of the week with high-impact event risk and data releases on deck Full Calendar: https://www.dailyfx.com/economic-calendar https://t.co/8SjcIYb5Z0
  • US Stock Market Close: $SPX -0.20% $DJI +0.05% $NDX -0.22% $RUT -0.26% $VIX +5.55%
Forex News: German Inflation Confirmed at 2.0%

Forex News: German Inflation Confirmed at 2.0%

2012-11-09 07:35:00
Benjamin Spier, Technical Strategist
Share:

THE TAKEAWAY: German inflation confirmed at 2.0% in October -> ECB maintains a 2% inflation target, 2.5% Euro-zone inflation expected -> Euro drops slightly

German annual inflation remained at 2.0% for the second straight month according to a final estimate of the October consumer price index by the Federal Statistical Office. The final CPI estimate confirmed a preliminary estimate of 0.0% change in consumer prices over the month, and a 2.0% rise in prices from October 2011.

The inflation rate was largely driven by a rise in energy prices, which were up 5.5% from October 2011; excluding the rise in energy prices, annual inflation was only 1.6%. Food prices were 3.3% higher from October of last year, while the prices for services only rose by 1.1% annually.

The Euro-zone annual inflation will be reported next week, and 2.5% is expected. The European Central Bank keeps a 2% inflation target according to forex news sources, and continued inflation above that rate could discourage the central bank from cutting the interest rate in an upcoming meeting.

The Euro moved slightly lower against the US Dollar following the release, despite the inflation rate meeting previous estimates. EURUSD might find support at 1.2740, by a 38.2% retracement of the rally from July through September. Resistance could be provided by a 200-day moving average, currently at 1.2818.

EURUSD 15-minute: November 9, 2012

German_Inflation_Confirmed_at_2.0_body_eurusd.png, Forex News: German Inflation Confirmed at 2.0%

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

DISCLOSURES

News & Analysis at your fingertips.