German Prelim CPI: +0.4% m/m vs +0.2% expected

According to the preliminary estimates released by the Federal Statistical Office (Destatis), the headline inflation rate in Germany as measured by CPI is expected to increase by 0.4% on a monthly basis, with the yearly rate expected to be at 1.7% in July 2017. Meanwhile, Harmonised Index of Consumer Prices (HICP) is also seen rising by 0.4% m-o-m and 1.5% y-o-y. 

The readings surpassed consensus estimates but did little to provide any fresh bullish impetus to the shared currency, with the EUR/USD major in holding pattern above the 1.1700 handle ahead of the US Q2 GDP print.