Dukascopy Bank Team
Dukascopy Bank SA
EUR/USD: German Producer Price Index
The EUR/USD currency pair failed to recover after falling sharply on Angela Merkel's unsuccessful attempt to form three-way coalition. The Euro gained against the Greenback 15 base points to the 1.1751 mark to reveal temporary increase, but continue trading in the 1.1740 area.
Destatis reported that German producer inflation eased slightly to mark a 2.7% yearly increase in October, while monthly growth pace remained at 0.3% in the same period. The most of contribution came from the Intermediate Goods Index climbing 4.1% year-over-year for the month. In the separate report, Deutsche Bundesbank noted that the country's economy is set to remain on a solid growth path entering in the Q4, buoyed by the surge in industrial activity.
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