Import prices in Germany kept falling in April, as shown by Destatis report. Price drop for energy resources has been the main reason for the decline.
According to the report, annual drop of import prices has amounted to 6.6%. The price drop continued after a decline in March (by 5.9%). The decline was expected to be less dramatic (by 6.2%), but actual result has gone beyond any expectations by showing the most rapid decline since autumn 2009. The price drop then amounted to 8.1%. “This series of import price drop started in January 2013,” claim experts of Masterforex-V Academy.
Without considering drop of oil prices, the decline has amounted to 4%. At the same time, price for imported energy has dropped by 30.8%.
On a monthly basis import price drop has amounted to 0.1%. Actual result has disappointed economist, who were expecting the price rise to reach 0.3%. In March prices have risen by 0.7%.
Export prices have also shown annual decline in April by 2.0% after their decline in March by 1.6%. On a monthly basis export prices have dropped by 0.1%.
Meanwhile, Euro remains in mid-term down-trend. “EUR/USD currency pair is getting lower within a down-wave A/B of not less than Daily2 level,” believe experts of Masterforex-V Trading System . As of 30 May 2016 the pair has shown termination of 5th sub-wave or sub-wave а of down-trend within “the Hound of the Baskervilles by Elder/MF” pattern. Breakout of 1.1097 minimal point will indicate continuation of the current wave. Closest support is provided by long-term rising sloping channel MF and Fibonacci levels 1.1068 and 1.0939. Breakout of pivot MF 1.1219 and descending sloping channel MF will terminate the current wave.
