BREAKING: CPI from UK and Germany PPI lower than expected. EURGBP gains 📊

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UK and Germany macro readings (07:00 GMT)

Germany

Inflation PPI came in -7.9% y/y vs -7.5% exp. and 11% previously (-0.5% MoM vs -0.3% exp. and -0.1% previously)

German GfK consumer sentiments: -25.1 vs -27 exp. and -27.8 previously

United Kingdom

Inflation CPI came in 3.9% y/y vs. 4.3% exp. and 4.6% previously (-0.2% MoM vs 0% exp. and 0.1% previously)

Core CPI: 5.1% vs 5.5% exp. and 5.6% previously (-0.3% MoM vs 0.3% previously)

After much higher than expected inflation decline in UK, British pound sterling may see impending weakness.

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