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Eurozone CPI fell to -0.2%

Monday, Feb 29 2016
Euro area annual inflation is expected to be -0.2% in February 2016, down from 0.3% in January, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in February (1.0%, compared with 1.2% in January), followed by food, alcohol & tobacco (0.7%, compared with 1.0% in January), non-energy industrial goods (0.3%, compared with 0.7% in January) and energy (-8.0%, compared with -5.4% in January).
Earlier today, German Retail Sales figures were released. According to provisional results of the Federal Statistical Office (Destatis), retail turnover in January 2016 in Germany decreased 0.8% in real terms and 0.4% in nominal terms compared with the corresponding month of the previous year. The number of days open for sale was 25 in January 2016 and 26 in January 2015. When adjusted for calendar and seasonal variations the January 2016 turnover was in real terms 0.7% and in nominal terms 0.6% larger than that in December 2015. Analysts were expecting 0.3% increase.
 
Euro is currently being traded few points above 1.0880 level. Pair is likely to find support around 1.0850 handle and resistance above 1.0950 level. Later today, in the US session, Chicago PMI and Pending Home Sales figures are scheduled for a release.
More in this category: « Net Lending to Individuals increased by £5.3 billion Pending Home Sales declined by 2.5% »

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