On Tuesday afternoon, the main currency pair is trading with a slight increase, and activity on the market is below average.
The single European currency on Tuesday is trading reservedly. The current quote in the euro/dollar is 1.0940; the daily increase is estimated at 0.2%. It is good: yesterday's weak data from the US has already been implemented in the prices, and the reactions to the German report are a little vague. The currencies are gradually fading in trading activity on the eve of the Catholic Christmas.
Daily statistics from Germany showed a decline in import prices in November. The indicator for the last month amounted to 3.5% y/y after falling 4.1% y/y the month before. Average expectations anticipated a reduction to -3.7% y/y. Import prices are falling for more than two years, and a trend reversal is not expected. There is too much here directly related to the cost of energy - excluding this volatile group the rate on import prices could add 0.5%.
Export prices strengthened during the reporting period by 0.3% y/y, more active than expected. M/m the indicator gained 0.1%, but it is weaker than the previous month.
In other words, the German macroeconomic published reports are still very mixed and therefore can not give any more or less valid clues. The market seems to have developed some sort of immunity to such publications.
RoboForex Analytical Department
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