The inflation rate in Germany as measured by the consumer price index is expected to be +0.8% in October 2016. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that the consumer prices are expected to increase by 0.2% on September 2016. The harmonised index of consumer prices for Germany calculated for European purposes is expected to be up 0.7% year on year. Compared with September 2016, it is expected to be up by 0.2%.
Earlier today Spanish CPI and GDP figures were published. Spanish CPI rose 0.7%. Spain’s gross domestic product also rose last month. In a report, Instituto Nacional de Estadistica said that Spanish GDP rose to 0.7%, from 0.8% in the preceding month. Analysts had expected Spanish GDP to rise 0.7% last month.
Euro is currently being traded around 1.0970 level. Pair is likely to find support around 1.09 handle and resistance near 1.10 area.
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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