According to the revised figures published by Destatis (Germany’s federal statistics agency), consumer prices in Germany grew by 0,1% (y/y) in August. It should be noted that the calculation was based on the standards introduced by the European Union.
With that said, analyst expectations paid off. The same calculation according to the German standard result in 0,2% over the same reporting period. As for July’s figures, they were the same in both cases. According to the latest survey conducted by Bloomberg, the actual figures happen to have matched the analytic forecast.
At the same time, the European Commission expects the German inflation rate to accelerate its growth in the near future. In particular, the estimated growth for 205 and 2016 is 0,3% and 1,8% respectively.
FOREX
As for EURUD, the common European currency is still moving within the mid-term consolidation against the same long-term downtrend against the U.S. Dollar. According to Masterforex-V Academy, a break above 1.1713 will give way to 1.1811/50, 1.1927, 1.2059/86, 1.2225/72. At the same time, if ERUSUSD does resume the downtrend, it may find support around 1.0847 and the bottom of the ascending MF sloping channel.
