German CPI inflation data for October was released at 1:00 pm BST today and surprised to the upside. Headline inflation came in at 10.4% YoY while market expected a 10.1% YoY reading. This is a noticeable acceleration from 10.0% YoY reported for September. On a month-over-month basis CPI came in at 0.9% MoM (exp. 0.6% MoM).
However, market reaction to the release was rather muted. This is because state-level inflation data from Germany released earlier in the day was a strong hint that country-wide reading will come above market expectations. Inflation accelerated in each state that reported data and in most cases those were quite significant increases.
เริ่มเทรดทันทีวันนี้ หรือ ลองใช้บัญชีทดลองแบบไร้ความเสี่ยง
เปิดบัญชี ลองบัญชีเดโม่ ดาวน์โหลดแอปมือถือ ดาวน์โหลดแอปมือถือGerman state CPI readings for October:
-
North Rhine Westphalia: 11.0% YoY vs 10.1% YoY previously
-
Hesse: 9.9% YoY vs 9.4% YoY previously
-
Baden Wuerttemberg: 9.8% YoY vs 9.5% YoY previously
-
Bavaria: 11.0% YoY vs 10.8% YoY previously
-
Brandenburg: 10.8% YoY vs 9.9% YoY previously
-
Saxony: 10.1% YoY vs 9.2% YoY previously
When it comes to market reaction, EURUSD barely saw any move and continued to trade in the 0.9950 area while DE30 ticked lower.
EURUSD did not experience any major reaction to German CPI beat. Source: xStation5
