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M3 Money Supply decreased to 4.7%

Friday, Jan 29 2016
The annual growth rate of the broad monetary aggregate M3 decreased to 4.7% in December 2015, from 5.0% in November, averaging 5.0% in the three months up to December. Analysts were expecting increase to 5.1%. The components of M3 showed the following developments. 
 The annual growth rate of the narrower aggregate including currency in circulation and overnight deposits (M1) decreased to 10.7% in December, from 11.1% in November. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was less negative at -3.5% in December, from -4.0% in November. The annual growth rate of marketable instruments (M3-M2) decreased to -2.8% in December, from 2.6% in November. 
 
Euro is currently being traded around 1.0890 area. Pair is likely to find support around 1.0850 handle and resistance above 1.0960 level. Later today, in the US session, GDP, Chicago PMI and Revised Consumer Sentiment figures are scheduled for a release.
More in this category: « Spanish CPI fell to -1.9% Eurozone CPI inceased by 0.4% in January »

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