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Eurozone Industrial Production fell by 0.1%

Thursday, Mar 12 2015
Eurozone Industrial Production fell by 0.1% in January, missing forecasts on 0.3% rise. The decrease of 0.1% in industrial production in the euro area in January 2015, compared with December 2014, is due to production of durable consumer goods falling by 2.2% and intermediate goods by 0.5%, while capital goods and non-durable consumer goods both increased by 0.1% and energy by 0.9%. 
 
Earlier today, French CPI figures were released. CPI grew by 0.7%, after a decrease by 1.0% in January. Year-on-year, consumer prices diminished again (—0.3% after —0.4% in January). In February 2015, the main contributors to the price rises were the seasonal increases in manufactured product prices at the end of winter sales and in tariffs of services linked with winter holidays. Some upward pressures came also from the rebound of petroleum product prices and a new increase in fresh foodstuff prices.
 
After several consecutive sessions of decline euro managed to rebound and is currently being traded slightly below 1.06 handle. Pair is likely to find support around 1.0530 and resistance above 1.0670 area. Later today, in the US session, Retail Sales and Unemployment Claims figures are scheduled for a release.
More in this category: « U.S. Consumer Confidence at the lowest level since October U.S Retail Sales down by 0.6% »

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