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Eurozone CPI 0.2% in August

Monday, Aug 31 2015
Euro area annual inflation is expected to be 0.2% in August 2015, stable compared to July 2015, according to a flash estimate from Eurostat, the statistical office of the European Union. This was in line with market predictions.
 
Looking at the main components of euro area inflation, food, alcohol & tobacco (1.2%, compared with 0.9% in July) and services (1.2%, stable compared with July) are expected to have the highest annual rate in August, followed by non-energy industrial goods (0.6%, compared with 0.4% in July) and energy (-7.1%, compared with -5.6% in July). 
 
Euro is currently being traded few points above 1.12 level. Pair is likely to find support around 1.1150 handle and resistance above 1.1260 area. Later today, in the US session, Chicago PMI figures are scheduled for a release.
 
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