BREAKING: Lower PPI data from Germany pushes EURUSD slightly lower

German PPI YoY actual -2.2% (forecast -2%, previous -3.3%)

German PPI MoM actual 0% (forecast 0.1%, previous 0.2%)

In May 2024, lower energy prices continued to be the main reason for the year-on-year decline in producer prices. Intermediate goods were also less expensive than in May 2023, whereas higher prices had to be paid for consumer and capital goods.

The EURUSD pair loses minimally after reading the data and breaks below the 200-period EMA on the M15 interval. Source: xStation

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