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Eurozone CPI rose to -0.1% in May

Tuesday, May 31 2016
Euro area annual inflation is expected to be -0.1% in May 2016, up from -0.2% in April, according to a flash estimate from Eurostat, the statistical office of the European Union. This was in line with market forecasts.
Looking at the main components of euro area inflation, services is expected to have the highest annual rate in May (1.0%, compared with 0.9% in April), followed by food, alcohol & tobacco (0.8%, stable compared with April), non-energy industrial goods (0.5%, stable compared with April) and energy (-8.1%, compared with -8.7% in April). 
 
Euro is currently being traded few points below 1.1140 level. Pair is likely to find support around 1.11 handle and resistance above 1.1180 level. Later today, in the US session, CB Consumer Confidence figures are scheduled for a release.
More in this category: « Number of unemployed in Germany decreased by 11,000 CB Consumer Confidence further declined in May »

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