Release Explanation: The release measures the change in the price of goods purchased by importers. Trade Desk Thoughts: In March, German import prices fell by 0.4%, extending the record pace of declines set over the last few months. From March 2008, the index is down by 7.1%, the biggest YoY decline since 1987. During the summer months of 2008 the index stood at a record 9.3% year over year, but huge declines in the energy component dragged the index lower.

Forex Technical Reaction: The euro had a weak reaction to the news release. The pair is trading just above TheLFB S1 (1.3135), after it lost 90 pips since the Sunday session started.