• Annual CPI inflation in Germany held steady at 2.3% in November.
• EUR/USD trades in negative territory below 1.1600 on Friday.

Annual inflation in Germany, as measured by the change in the Consumer Price Index (CPI), remained unchanged at 2.3% in November's preliminary estimate, Germany's Federal Statistical Office reported on Friday. This reading came in below the market expectation of 2.4%. On a monthly basis, the CPI declined by 0.2%.

The Harmonized Index of Consumer Prices (HICP), the European Central Bank's (ECB) preferred gauge of inflation, fell by 0.5% on a monthly basis but rose by 2.6% on a yearly basis.

Market reaction

The EUR/USD pair showed no immediate reaction to these figures and was last seen losing 0.23% on the day at 1.1570.