According to the recent report published by Destatis, Germany’s official statistics agency, the import prices in Germany dropped in June 2015. It should be noted that the June decrease indicated acceleration in the dynamics, i.e. relative to the the same figures seen in May. The actual figures exceeded analyst expectations.
The year-over year decline was equal to 1,4% - in June 2015 relative to June 2014, Market Leader reports. It should also be noted that the import price index has been seeing a steady decline since 2013.
At the same time, analysts predicted a 1.3% decline this time following a 0.8% drop in May. But the 1.4% drop exceeded their expectations. Energy carriers turned out to be the key reason for the current dynamics. In particular, energy prices dropped by 23% over the reporting period, thereby leading to the mentioned 1.4% drop while the same figures excluding energy prices gained 2.6%. This is a huge gap indeed.
FOREX
Meanwhile, Masterforex-V Academy repot that today, on July 29th, the common European currency managed to regain a bit of the lost ground against the U.S. Dollar after breaking above 1.0818. EURUSD is currently trading next to 1.1049, the experts report.
A break above this level followed by consolidation will give way to further local highs. If that’s the case, the price is probably going to encounter resistance around pivot 1,1213 as well as the 1,1435 high. At the same time, if the price reverses and goes don again below the mentioned supports, the next levels to watch are the bottom of the ascending MF sloping channel and pivot 1,0535.
