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Forex: EUR/USD indifferent after German CPI

The bloc currency remained apathetic after February’s consumer prices in the German economy rose 1.5% over the last twelve months and 0.6% on a monthly basis, in line with forecasts. Wholesale prices rose 0.1% MoM and 1.4% on a yearly basis, lower than January’s +0.3% and +2.3%, respectively.

Next on tap in the euro area would be the French Current Account followed by Italian inflation figures.

As of writing, the pair is down 0.20% at 1.3019 facing the immediate support at 1.2956 (Mar.8) ahead of 1.2929 (low Dec.11) and then 1.2881 (low Dec.1).
On the upside, a breakout of 1.3044 (MA10d) would bring 1.3126 (MA100d) en route to 1.3135 (high Mar.8).

Germany: Feb Consumer Price Index (YoY) grows 1.5%; (MoM) up 0.6%

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Germany: February Annual inflation at lowest level in over two years

According to data released today by Destatis, German annual inflation grew 1.5% in February, following a 1.7% increase in January. This result is in line with analysts' forecasts and it is the lowest level registered by the indicator since November 2010. On a monthly basis German CPI climbed 0.6% in February, after sliding 0.5% in January, as expected.
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