M3 Money Supply increased by 4.1%
The annual growth rate of the broad monetary aggregate M3 increased to 4.1% in January 2015, from 3.8% in December 2014,beating market expectations on 3.7% increase. The three-month average of the annual growth rates of M3 in the period from November 2014 to January 2015 increased to 3.6%, from 3.1% in the period from October 2014 to December 2014.
Separate report, on German Unemployment Change showed that the number of people out of work declined a seasonally adjusted 20,000 to 2.81 million. Economists predicted a drop of 10,000. The adjusted jobless rate remained at 6.5%, the lowest level in records going back more than two decades.
After the data euro was pushed lower and is currently being traded around 1.1340 level. Pair is likely to find support around 1.13 handle, and resistance at 1.1380 level. Later today, in the US session, CPI, Durable Goods Orders and Unemployment Claims figures are scheduled for a release.
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