Market Updates: German & French Final CPI Disappoint
Arslan Butt • 1 min read
German Final CPI – As per the recent release by Destatis, consumer prices in Germany moved up 1.5% in February 2019 from February 2018. The inflation rate that measured by the consumer price index was thus insignificantly higher than in January 2019 (+1.4%). Comparing it with January 2019, the consumer price index increased by 0.4% in February 2019.
French Final CPI – Whereas, the French Consumer Prices Index (CPI) was stable over a month, after a 0.4% drop in December. The pullback in energy prices (+1.3% after −1.2%) was compensated by a drop in fresh food prices (−1.3% after +2.4%).
Long story short, both figures have failed to drive any significant move in the EUR/USD today, however, the pair is taking a slight bullish turn of 7 to 10 pips.