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German Import Prices Actual -0.8%, Expected 0.0%, Previous -0.4%
Release Explanation: The release measures the change in the price of goods purchased by importers.
TheLFB-Forex.com Trade Desk Thoughts: In April, German import prices fell by 0.8%, extending the record pace of declines set over the last few months. From April 2008, the index is down by 8.6%, 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 trapped between the neutral pivot point (1.4000) and TheLFB S1 (1.3970), after it lost 30 pips since the Tuesday session started.
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