Germany June wholesale price index -0.5% vs +0.3% m/m prior
Latest data released by Destatis - 12 July 2019
- Prior +0.3%
- Wholesale price index +0.3% y/y
- Prior +1.6%
Slight delay in the release by the source. The index measures the value of sales made by wholesalers in Germany, it provides an indicator of consumption and retail pattern.
The drop here isn't a convincing sign of robust domestic demand to end the second quarter and just only reaffirms the notion that the German economy is seen stagnating in Q2. EUR/USD holds steady near highs at 1.1272 still, mainly on the back of a weaker dollar.