Germany July CPI flash mm +0.4% vs +0.2% exp

Germany July CPI data now out 28 July

• 0.3% prev
• yy 1.7% vs 1.5% prev
• HICP mm 0.4% vs 0.3% exp vs 0.2% prev
• yy 1.5% vs 1.4% exp vs 1.5% prev

In line with the regionals so no great surprise but positive readings nonetheless. Sharp rises in food prices the main contributor but a widespread increase in other sectors too.

EURUSD up to 1.1720 and EURGBP 0.8960 pushing GBPUSD back down even further to 1.3082 after the failure at 1.3100. Nice easy pips on both.

German CPI mm