German WPI missed market forecasts

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Friday, Mar 11 2016

From Eurozone, today, only minor importance German WPI and Italian Industrial Production figures were released. As reported by the Federal Statistical Office (Destatis), German selling prices in wholesale trade decreased by 1.9% in February 2016 from the corresponding month of the preceding year. In January 2016 and in December 2015 the annual rates of change were –1.0%, each. From January 2016 to February 2016 the index fell by 0.5%. Analysts were predicting 0.2% increase.

In January 2016 the Italian industrial production index seasonally adjusted increased by 1.9% compared with the previous month. The percentage change of the average of the last three months with respect to the previous three months was +0.2%. The calendar adjusted industrial production index increased by 3.9% compared with January 2015 (calendar working days in January 2016 being 19 versus 20 days in January 2015). The unadjusted industrial production index increased by 0.7% compared with January 2015.

Euro is currently being traded few points above 1.1120 level. Pair is likely to find support around 1.1050 handle and resistance above 1.12 level. There will be no major data releases later today.

More in this category: « UK Trade Balance deficit at £10.3 billion in January US Import Prices fell by 0.3% »

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