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M3 Money Supply unchanged in February

Tuesday, Mar 29 2016
The annual growth rate of the broad monetary aggregate M3 stood at 5.0% in February 2016, in line with market expectations, unchanged from the previous period, averaging 4.9% in the three months up to February. 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 10.3% in February, from 10.5% in January. 
The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was less negative at -2.5% in February, from -2.7% in January. The annual growth rate of marketable instruments (M3-M2) was less negative at -1.1% in February, from -1.5% in January.
 
Euro is currently being traded few points below 1.1180 level. Pair is likely to find support around 1.11 handle and resistance above 1.1220 level. Later today, in the US session, CB Consumer Confidence figures are scheduled for a release.
More in this category: « PBOC sets USD/CNY central rate at 6.5060 Pound can anticipate losses due to Brexit concerns »

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