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German Import Prices rose 0.7%

Thursday, Dec 22 2016
German Import Prices rose 0.7%

As reported by the Federal Statistical Office (Destatis), the index of import prices increased by 0.3% in November 2016 compared with the corresponding month of the preceding year. This was the first increase of a yearly rate of change since November 2012 (+1.0%). In October and in September 2016 the annual rates of change were –0.6% and –1.8%, respectively. From October to November 2016 the index rose by 0.7%.

The index of import prices, excluding crude oil and mineral oil products, increased by 0.4% compared with the level of a year earlier. The index of export prices increased by 0.3% in November 2016 compared with the corresponding month of the preceding year. In October and in September 2016 the annual rates of change were –0.1% and –0.6%, respectively. From October to November 2016 the export price index rose by 0.5%.

 

Euro is currently being traded around 1.04 handle. Pair is likely to find support around 1.0350 area and resistance above 1.0450 area.

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