Release Explanation: The release measures the change in the price of goods purchased by importers.

Trade Desk Thoughts: In February German import prices fell by 0.1%, extending the record pace of declines set over the last few months. From February 2008 the index is down by 6.4%, the biggest YoY decline since 1999. 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 was unmoved by the release. Previously, the euro had fallen 40 pips against the dollar, but traded flat against the pound.