French Consumer Spending rose by 0.1%
In February 2015, household consumption expenditure on goods in France was broadly stable: +0.1% in volume, after +0.7% in January. However, analysts were forecasting 0.3% incline. The high vigour of spending on energy and other engineered goods was offset by a slight decline in the consumption of clothes and cars.
Household consumption of energy products accelerated slightly in February (+0.8% after +0.6%). This dynamism essentially reflected high level in heating expenditure, the temperatures being slightly below seasonal norms in February. By contrast, fuel expenditure declined again, but at a lower pace.
Data did not have any major impact on the markets with euro currently being traded around 1.0780 area. Pair is likely to find support around 1.07 handle and resistance above 1.0850 level. Later today, German Unemployment Change and Eurozone CPI and Unemployment Rate figures are scheduled for a release.
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