Euro Mixed After German PPI Rises Unexpectedly

The euro was mixed against other currencies despite macroeconomic data in Germany was better than expected.
Destatis reported that the German Producer Price Index rose 0.1% in July from the previous month. While the increase was marginal, it was still a better reading than no change predicted by analysts and a drop by 0.4% registered in June. Year-on-year, the index rose 1.1%. Electricity prices were the biggest contributor to the increase.
EUR/USD was up from 1.1077 to 1.1089 intraday but backed off to 1.1075 by 12:52 GMT today. EUR/GBP was up from 0.9134 to 0.9156, touching the daily high of 0.9184.

If you have any questions, comments, or opinions regarding the Euro, feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *