Germany: Inflation decelerates further in January

Pablo Piovano FXStreet

According to Destatis, the preliminary Inflation Rate in Germany showed consumer prices rising at a monthly 0.2% in January (from 0.1%) and 2.9% over the last twelve months (from 3.7%).

Furthermore, the resurgence of disinflationary pressures rapidly left behind the annualized rebound observed in the CPI in the last month of 2023.

Market reaction: EUR/USD keeps daily highs near 1.0840

Soon in the wake of the release, price action in EUR/USD remained quite apathetic in the upper end of the daily range around 1.0840, as investors get ready for the publication of the ADP report.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD stays well bid beyond 1.1700

EUR/USD keeps the bid tone in place toward the end of the NA session on Tuesday, trading well north of the 1.1700 barrier on the back of the intense decline in the US Dollar, all amid the resurgence of the “Sell America” trade. Moving forward, investors’ attention will be on the release of US PCE data on Wednesday.

GBP/USD eases from tops, back to 1.3460

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