German Gfk consumer confidence for August has come in at 3.5, up from 3.0 in July, and better than the median forcast of 2.9. The 3.5 read is the strongest since June 2008.
The data helped lift EUR/USD to a session high 1.4253 before stalling out. We’re presently back at 1.4245.
Elsewhere, German June import prices came in at +0.4% m/m, -11.3% y/y, weaker than median forecasts of +0.6%, -11.0% respectively.
