The European Central Bank (ECB) is scheduled to meet next month for its monetary policy review, making the upcoming Harmonized Index of Consumer Prices (HICP) inflation data from Germany, set to be released on Thursday, particularly significant for its potential impact on the central bank’s policy decisions.
Germany ’s statistics agency, Destatis, will publish the CPI data on Thursday. Headline CPI is set to rise by 2.1% YoY in August. The ECB is still far from decided over a move on rates in September. The European Central Bank is scheduled to meet next month for its monetary policy review, making the upcoming Harmonized Index of Consumer Prices inflation data from Germany , set to be released on Thursday, particularly significant for its potential impact on the central bank’s policy decisions.
So far, the broader debate seems to have shifted towards the health of both economies, where the US clearly exhibits a decent advantage. If the headline and core inflation data come in hotter than expected, it could bolster expectations for one more ECB rate hike in the next few months, lending support to the European currency and therefore opening the door to the continuation of the ongoing uptrend in EUR/USD.
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