German Inflation Confirmed At 23 In July

Europe Mixed in Premarket with Focus on CPI Prints

German Inflation Confirmed at 2.3% in July

The German Federal Statistical Office confirmed on Friday that the country's consumer price index (CPI) rose by 2.3% year-over-year in July, as initially estimated. The rate of increase remained unchanged from June and was in line with analysts' expectations.

Disney Set to Spend €5B in Europe on New Content

The Walt Disney Company announced on Friday that it plans to invest €5 billion ($5.9 billion) in Europe over the next five years to create new content for its streaming services. The investment will be used to produce original films, television series, and documentaries.

U.S. CPI Print Provides Support to Euro

A lower-than-expected U.S. CPI print in mid-November provided additional support to the euro despite being partly offset by the subsequent release of stronger-than-expected U.S. retail sales data. The weaker inflation outlook in the U.S. reduced expectations for aggressive interest rate hikes by the Federal Reserve, making the euro more attractive to investors.

Conclusion

The European markets traded mixed in the premarket on Friday, with investors awaiting key CPI prints from the United Kingdom. The release of the data is expected to provide further insights into the inflationary pressures facing the region and could influence the European Central Bank's monetary policy decisions in the coming months.