German Prelim CPI: 30 August EURUSD Impact Analysis


When is the German Prelim CPI and how could it affect the EURUSD? Look for the answer in the following 30 August EURUSD Impact Analysis.

30 August, OctaFX – The German inflation data is up for release later this session at 1200 GMT, with the CPI figures expected to tick down to 0.1% m/m and 2.0% y/y in August.

The German Prelim CPI Overview

The softer tones seen in Germany’s regional CPIs released earlier today paint a bleak picture of the harmonized German CPI readings due to be reported later today. In Hesse, MoM inflation for the month of August arrived at -0.1%, versus +0.4% prev. Meanwhile, in Bavaria stood at +0.2% MoM versus +0.4% last. In Saxony, Aug inflation MoM came in at 0.0% versus +0.4% previous, while Brandenburg’s stood at -0.1% MoM vs. +0.4% prior. For North Rhine Westphalia, the August CPI readings edged down to +0.1% vs +0.3% MoM prior.

German Prelim CPI: 30 August EURUSD Impact Analysis

Yohay Elam, Analyst at FXStreet notes that technically on the 4-hour chart,

“1.1735 was the high point on Wednesday and may serve as an initial hurdle. More robust resistance awaits at 1.1750, a quadruple top from July. 1.1795 capped the pair in July and 1.1850 was the swing high on June 14th. 

Immediate support awaits at the current daily lows of 1.1685. 1.1655 was a low point earlier in the week, and 1.1625 capped the pair in mid-August. Further down, 1.1595 and 1.1530 are notable.” 

About the German Prelim CPI

The Germany consumer price index released by the Statistisches Bundesamt Deutschland measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes in purchasing trends. A high reading is positive (or Bullish) for the EUR, while a low reading is negative (or bearish).

Disclaimer

This article about German Prelim CPI: 30 August EURUSD Impact Analysis was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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