Germany CPI y/y comes in at 2.9% against 2.9% consensus

Germany’s Consumer Price Index year over year for September came in at 2.9%. This figure matched the consensus expectation of 2.9%. The previous reading was also 2.9%. The release showed no surprise against the consensus estimate.

Following the release, the euro showed a mixed and generally subdued reaction across major pairs. Fifteen minutes after the data, EURAUD was up 8.7 pips, while EURCAD gained 2.6 pips. EURCHF moved down 0.5 pips, and EURGBP edged up 0.4 pips. EURJPY declined by 6.9 pips, EURNZD rose 5.1 pips, and EURUSD was down 1.7 pips. These movements are generally small when compared to the typical median 1-hour moves observed after past releases. For instance, EURAUD’s 8.7 pip move is below its median 1-hour move of 12 pips, and EURUSD’s 1.7 pip move is below its median of 7 pips.