Germany January preliminary CPI +2.9% vs +3.0% y/y expected ...Middle East

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Germany January preliminary CPI +2.9% vs +3.0% y/y expected
Prior +3.7%CPI +0.2% vs +0.2% m/m expectedPrior +0.1%HICP +3.1% vs +3.2% y/y expectedPrior +3.8%HICP -0.2% vs -0.1% m/m expectedPrior +0.2%This matches up with what was expected after the state readings earlier here. Adding to the softer headline numbers, core annual inflation is seen at 3.4% - down from 3.5% in December. After both the French and German readings, the odds of an ECB rate cut in April are now at ~86%. It was for a brief period fully priced in during the session earlier, as noted here. This article was written by Justin Low at www.forexlive.com.

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