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Eurozone CPI unchanged at 0.2%

Tuesday, Jan 05 2016
Euro area annual inflation is expected to be 0.2% in December 2015, stable compared to November 2015, according to a flash estimate from Eurostat, the statistical office of the European Union. However, analysts were anticipating 0.4% increase. Core CPI also remained unchanged at 0.9%. 
 Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in December (1.2%, compared with 1.5% in November), followed by services (1.1%, compared with 1.2% in November), non-energy industrial goods (0.5%, stable compared with November) and energy (-5.9%, compared with -7.3% in November). 
 
Euro is currently being traded around 1.0770 area. Pair is likely to find support around 1.0750 handle and resistance above 1.0850 level. There will be no major data releases in the rest of the session.
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