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Eurozone CPI up in March

Tuesday, Mar 31 2015
Euro area annual inflation is expected to be -0.1% in March 2015, up from -0.3% in February. Analysts were expecting 0.3% decrease. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in March (1.0%, compared with 1.2% in February), followed by food, alcohol & tobacco (0.6%, compared with 0.5% in February), non-energy industrial goods (-0.1%, stable compared with February) and energy (-5.8%, compared with -7.9% in February). 
 
Separate report on unemployment rate showed that it declined to 11.3%, from revised last month's rate of 11.4%. Analysts were anticipating fall to 11.2%. However, this is the lowest rate recorded in the euro area since May 2012. The EU28 unemployment rate was 9.8% in February 2015, down from 9.9% in January 2015 and from 10.5% in February 2014. 
 
After the data euro was pushed slightly higher and is currently being traded few points above 1.0720 level. Pair is likely to find support around 1.07 handle and resistance above 1.0770 level. Later today, in the US session, Chicago PMI and CB Consumer Confidence figures are scheduled for a release.
More in this category: « U.K. GDP grew by 0.6% in Q4 CB Consumer Confidence rose to 101.3 »

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