German EU harmonized CPI data:
- Prior was 2.1%
- Headline CPI 1.4% y/y vs 1.6% expected
- Monthly headline +0.2% vs +0.3% expected
- Monthly HICP +0.3% vs +0.3% expected
A weak reading was foreshadowed by the soft regional numbers earlier today. If anything, this is a bit stronger than feared.
Muted reaction in EUR/USD.