Will Germany's Consumer Price Index (CPI) exceed the previous reading of 7.6%?

Will Germany's Consumer Price Index (CPI) exceed the previous reading of 7.6%?

28.07.2022

In the previous session, U.S. currencies saw a "sell-the-fact" reaction after the FOMC meeting concluded without any surprises, and GBP/USD rose by approximately 160 pips from 1.2021 to 1.2186.The Fed raised rates by 0.75% as it did at the previous meeting, resulting in a smooth FOMC meeting that aligned with market expectations. Furthermore, since GBP/USD has broken above the 200-period SMA on the 4-hour chart with a real body candle, if the upward trend continues, we would like to target the 75-period MA on the daily chart at 1.2341.

European currencies traded in a range against the yen, as the German GfK Consumer Confidence Index for August, released yesterday, came in below expectations at -30.6, while the pound and Swiss franc held firm.During today’s Asian session, a trend toward yen buying has emerged, with the pair falling more than 150 pips from 139.493 to 137.915. Since EUR/JPY has already broken below the daily 75-day moving average, we will be watching closely to see if it breaks below the recent low of 136.864 and continues its decline.

Today, the French Producer Price Index will be released at 15:45 during Asian trading hours; the Turkish Economic Confidence Index at 16:00 during European trading hours; the German Consumer Price Index at 21:00; and the U.S. Initial Jobless Claims and U.S. Second-Quarter GDP (flash estimate) at 21:30 during U.S. trading hours;U.S. personal income and the U.S. core PCE deflator at 21:30, U.S. weekly natural gas inventories at 23:30, the U.S. Kansas City Fed Manufacturing Activity Index at 24:00, and the U.S. 7-year Treasury auction at 26:00. Apple and Amazon are scheduled to report earnings after the U.S. market closes. We will be closely monitoring price movements depending on the results to see if Germany’s CPI has peaked.

Past Market Reports

1. 22.04.2026New

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2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?