German producer prices fall

German producer prices fell 0.3% on the month in June, suggesting inflationary pressures are lessening in the eurozone’s largest economy.

Data released Wednesday confirmed that eurozone inflation rose 5.5% on the year last month, a drop from 6.1% the prior month.

The European Central Bank is widely expected to raise its benchmark rate by 25 basis points next week, but what comes after that has been up for debate in the wake of the recent dovish tone taken by the central bank’s policymakers.

In the U.S., jobless claims and housing sales headline an otherwise sparse data calendar later Thursday.