The German government statistics office says HICP inflation rose at a 2.2% y/y rate in March, up 0.5% versus the prior month. That’s above the ECB’s close-to-but below 2.0% target.
EUR/USD has bounced from the low 1.4050s and trades now in the low 1.4070s. Also helping lift EUR/USD is fresh buying in EUR/JPY as USD/JPY continues its grind higher. 82.34 has been the high so far.
Case Shiller home price data is out at the top of the hour, expected to 3.2% year over year.
