No surprises from German inflation figures: annual HICP rose to 0.3% as expected and annual national CPI advanced to 0.4% as expected as well. The monthly figures both rose 0.%.
EUR/USD ticks marginally higher on the news, but remains constrained in range.
Germany was expected to report a tick up in inflation: rises of 0.1% m/m in both the national and the HICP (European standard). Both stood on 0% in October. The year over year numbers were predicted to advance from 0.2% to 0.3% in the HICP and 0.3% to 0.4% in the national numbers. Early indications from the various German states suggested this kind of result or perhaps slightly stronger.
EUR/USD traded around 1.0575 towards the publication, hovering over low ground.
The German number feeds into the all-European figure which in turn feeds into the ECB decision on Thursday.
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