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German Wholesale Prices (Jul YY) 5.3% (Prev. 4.9%)

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German July WPI rose 5.3% YoY, exceeding the previous 4.9%. Markets anticipate an 88% chance of an ECB rate hike in September as energy risks and broad inflation persist.

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[MARKET UPDATE] Energy benchmarks continue to steadily rise depsite a clear driver, WTI +2%, weighing on fixed income and equities