GERMAN INFLATION COOLS TO 2.8% IN OCTOBER

Germany's preliminary consumer price index rose 2.8% year-over-year in October, down from 3.3% in September and below the 3% economists had forecast. Prices actually fell 0.2% on the month, the first monthly decline in months, as energy costs decelerated sharply from a year earlier. The euro ($EURUSD) and German bunds are now the assets most exposed to whether this reading pulls the ECB back toward rate cuts.