Negative macroeconomic statistics from Germany | 30 June 2023

EURUSD trading plan:

German inflation rose more than expected in June, interrupting a steady decline since the start of the year in what analysts say was just a blip. German consumer prices, harmonised to compare with other European Union countries, rose by a higher-than-anticipated 6.8% on the year in June, preliminary data from the German statistics office showed. Analysts had expected an increase of 6.7%. Non-harmonized consumer prices rose 6.4% in June year-on-year, following a 6.1% rise in the previous month. The data from Germany, the euro zone's biggest economy, comes as the European Central Bank is still looking for evidence that underlying inflation has turned a corner.

Investment idea: sell 1.0881 and take profit 1.0821.