Preliminary German CPI data for November was released at 1:00 pm GMT. The reading can be considered mixed as the headline measure came in at 1.1% YoY - below expected 1.2% YoY - and harmonized consumer price growth turned out to be 1.2% YoY while market expected 1.1% YoY. However, both month-over-month metrics disappointed with headline coming in at -0.8% MoM (expected -0.6% MoM) and harmonized at -0.8% MoM (expected -0.7% MoM). Nevertheless, EURUSD sees little reaction to the data.
EURUSD wanders without a direction in the aftermath of the German CPI release. Range of the moves does not exceed 3 pips. Source: xStation5
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