Latest data released by Destatis - 27 June 2019

  • Prior +0.3%
  • CPI +1.8% y/y
  • Prior +1.4%

The headline reading suggest stronger price pressures and the details back that up. Core inflation for Saxony shows an improvement from +1.2% y/y in May to +1.7% y/y in June and that will provide some relief to the ECB that inflation isn't quite falling off just yet despite a poor reading from Spain released at the same time.

EUR/USD is holding near flat levels at 1.1365 currently after having hit a low of 1.1348 earlier to begin the session.