Euro Has Decreased Despite Strong German CPI Data
The euro fell by 0.19% today and the euro/dollar pair is trading at 1.1750 level. The consumer price index (CPI) in Germany rose by 1.7% year-on-year in July, which is somewhat faster than the 1.6% increase registered in June.
Inflation of wholesale prices (WPI) in Germany fell to an eight-month low in July. Wholesale prices rose 2.2% on an annualized basis in July, slower than the 2.5% increase in June. This was the weakest growth since November 2016, when prices rose by 0.8%. On a monthly basis, wholesale prices fell by 0.1%.
World markets remain under pressure of growing tension between North Korea and the United States. Markets are falling, as investors have dumped shares in favor of safe-haven assets, such as the Japanese yen and gold.