Latest Producer Price Index data now out from Germany

  • -0.4% prev
  • yy -2.5% vs --2.4% exp vs -2.3% prev
  • cap goods mm +0.1%, yy+0.7% vs +0.6% prev
  • basic goods mm -0.5% yy -2.2% vs prev

Nothing much to glean from the headline but an step in the right direction from October

Y-y reading though is softer than expectations and previous and tempers the better mm reading

No one though should be surprised that producer prices remain soggy when commodity prices are so soft and this doesn't help the chances of inflation going up to any real effect

EURUSD a tad lower at 1.0872 but all really quiet out there as expected