Germany's Producer Price Index rose by 0.1 percent compared with the corresponding month of the preceding year, beating expectations at -0.2 percent. Germany's PPI posted the first positive annual rate of change since June 2013 (+0.1 percent). In October 2016 the annual rate of change had been –0.4 percent.
Compared with the preceding month (October), the overall index rose by 0.3 percent in November. The month-over-month rise compared to a 0.7 percent rise in October and – 0.2 percent fall in September.
Details of the report showed, energy prices decreased by 1.7 percent y/y in November, while prices of intermediate goods rose by 0.4 percent. In contrast prices of non-durable consumer goods rose by 1.5 percent, prices of capital goods by 0.6 percent and prices of durable consumer goods by 1.0 percent.
FxWirePro's Hourly EUR Spot Index was at -37.9768 (Neutral), while Hourly USD Spot Index was at 108.341 (Highly bullish) at 1055 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
