Germany's consumer price inflation rises 0.1 pct in Nov, in line with expectations

Germany's final consumer prices and wholesale prices for November were released by Federal Statistical Office Destatis earlier on Tuesday. Report showed German consumer price inflation rose to a seasonally adjusted 0.1 percent in November, from 0.1 percent in the preceding month.

Data was inline with expectations which left the euro changed little against its major rivals. The single currency was trading at 0.8393 against the pound, 1.0779 against the Swiss franc, 1.0639 against the U.S. dollar and 122.53 against the yen at around 0700 GMT.

Preliminary estimates released in November showed German consumer prices rose 0.1 percent in November. The year-on-year rate was unchanged at 0.8 percent and both metrics were in line with market expectations.

The inflation rate will likely have an important underlying impact on central bank policy expectations. The Bundesbank will closely watch rising inflation and any move above the 1.0 percent would be likely to harden opposition to a continuation of the ECB’s bond buying programme.

FxWirePro's Hourly EUR Spot Index was at -100.847 (Highly bearish) at 1200 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex