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German state CPIs due today

GERMAN DATA
  • The first of the German state CPIs is due at 6:30GMT / 7:30CET from North Rhine Westphalia.
  • Note that this data is not always released at this time (it can sometimes get moved to later in the day).
  • By the end of the day yesterday, markets were pricing in around 139bp of further hikes this year. This was down from an intraday peak of around 148bp but up from around 136bp at Monday's close as markets reacted to yesterday's stronger-than-expected French and Spanish inflation prints.
  • Today's state data (and national data at 13:00GMT / 14:00CET) will be closely watched to see if there Germany sees further upside inflation surprises.

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