Economic data from the Eurozone was on the lighter side this morning but not without influence.
Wholesale inflation figures for Germany were in focus this morning.
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German Producer Prices
In April, the producer price index rose by 0.8% month-on-month, following a 0.9% increase in February.
According to Destatis,
- Month-on-month, energy prices increased by 0.6%, with prices for intermediate goods rising by 1.8%.
- Prices for non-durable goods increased by 0.6%, month-on-month, with prices for durable consumer goods up 0.4%.
- Compared with April 2020, the index of producer prices for industrial products increased by 5.2%. This was the highest year-on-year increase since August 2011.
- Prices of intermediate goods increased by 8.2%, compared with April 2020.
- Compared with April 2020, energy prices jumped by 10.6%.
- Price for durable consumer goods increased by 1.6%, with prices for capital goods up by 1.0%.
- Non-durable consumer goods prices declined by 0.6%, however.
Market Impact
Ahead of the numbers the EUR had fallen to a pre-stat and current day low $1.21685 before rising to a pre-stat high $1.21854.
In response to today’s stats, the EUR rose from $1.21788 to a post-stat and current day high $1.21891 before easing back.
At the time of writing, the EUR was up by 0.11% to $1.21878.
Next Up
U.S jobless claims and Philly FED Manufacturing figures.