Eurozone CPI expected to be -0.3%

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Monday, Mar 02 2015

Euro area annual inflation is expected to be -0.3% in February 2015, up from -0.6% in January. This was above expected inflation of -0.5%. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in February (1.1%, compared with 1.0% in January), followed by food, alcohol & tobacco (0.5%, compared with -0.1% in January), non-energy industrial goods (-0.2%, compared with -0.1% in January) and energy (-7.9%, compared with -9.3% in January).

Separate report on Unemployment Rate showed that seasonally-adjusted unemployment rate was 11.2% in January 2015, down from 11.3% in December 2014, and from 11.8% in January 2014. No change was predicted this month. This is the lowest rate recorded in the euro area since April 2012. The EU28 unemployment rate was 9.8% in January 2015, down from 9.9% in December 2014 and from 10.6% in January 2014.

Data did not have any major impact on the markets with euro currently being traded few points above 1.1210 level. Pair is likely to find support around 1.1150 and resistance above 1.1250 level. Later today, in the US session, Manufacturing PMI figures are scheduled for a release.

More in this category: « U.K. Manufacturing PMI rose more than expected U.S. Manufacturing PMI decreased in February »

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