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EUR/USD rebound stunted by falling German producer prices
Earlier today the EUR/USD fell back to a low at 1.0266. The Euro had closed in the US at 1.0273 on Friday, but it had opened higher today, at 1.0289. The push off the lows delivered a high at 1.0319 just ahead of the latest German PPI data, released a few minutes ago. That PPI data missed on estimates by quite some margin and that seems to have stunted the rebound in the Euro for the time being. German Producer Prices were expected to rise by 0.3% last month. They actually fell by 0.1%. So, as you can see, even with the Euro at close to parity there is no imported inflation around by the looks of it. That could be a good excuse for the Euro to trade lower again, but we shall have to see on that. The EUR/USD is currently trading at 1.0307
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