Germany's import prices registered its biggest fall since 1987 in July largely due to base effects, data released by Destatis showed on Wednesday. Import prices were down 13.
Dollar's spirited rally attempt faced a swift halt as major US stock indices recorded gains, positively influencing broader market sentiment. Following that, Asian markets are poised, with China's unexpected rate cut effectively counterbalancing the dampening effects of discouraging economic data. As a result, commodity currencies, including Australian Dollar, saw a resurgence.
European major currencies are making a notable stride today, with Sterling at the forefront. The Pound ascent is attributed to the historic high recorded in UK regular wage growth. This surge adds further weight to BoE dilemma, pushing it to seriously consider additional monetary tightening in the upcoming month.
Germany import prices declined at the fastest pace in nearly 14 years in June largely due to the sharp reduction in energy import cost, data published by Destatis showed on Monday.