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M3 increased to 5.0% in January

Thursday, Feb 25 2016
The annual growth rate of the broad monetary aggregate M3 increased to 5.0% in January 2016, from 4.7% in December, averaging 4.9% in the three months up to January. Analysts were expecting no change.The annual growth rate of the narrower aggregate including currency in circulation and overnight deposits (M1) decreased to 10.5% in January, from 10.8% in December. 
 The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was less negative at -2.7% in January, from -3.5% in December. The annual growth rate of marketable instruments (M3-M2) was less negative at -1.3% in January, from -3.8% in December.
 
Euro is currently being traded few points above 1.1010 level. Pair is likely to find support around 1.0950 handle and resistance above 1.1050 level. Later today, in the US session, Unemployment Claims and Durable Goods Orders figures are scheduled for a release.
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