Preview: Germany Jun Various State CPI readings due out at 04:00 ET (08:00 GMT)

**Consensus expectations: - CPI North Rhine Westphalia M/M: No est v -0.2% prior; Y/Y: No est v 2.4% prior - CPI Hesse M/M: No est v -0.2% prior; Y/Y: No est v 2.6% prior - CPI Bavaria M/M: No est v -0.2% prior; Y/Y: No est v 2.6% prior - CPI Brandenburg M/M: No est v -0.1% prior; Y/Y: No est v 2.8% prior - CPI Saxony M/M: No est v -0.1% prior; Y/Y: No est v 2.8% prior - CPI Baden Wuerttemberg M/M: No est v -0.3% prior; Y/Y: No est v 2.4% prior **Note: Germany Jun Preliminary CPI to be released later in session (08:00 ET/12:00 GMT). with MoM seen at 0.0%e and YoY at 2.6%e - ECB has an symmetrical inflation target of 2% - Reports circulated that upcoming EU inflation data could bring July ECB rate hike back onto the table Recent comments: - On Jun 11th ECB raised its Key Rates by 25bps (as expected) to move into tightening with its 1st rate hike since Sept 2023). Statement noted that the decision to raise rates was robust across range of scenarios. Reiterates stance of not pre-commit...