Euro area annual inflation is expected to be 0.6% in November 2016, up from 0.5% in October 2016, 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 November (1.1%, stable compared with October), followed by food, alcohol & tobacco (0.7%, compared with 0.4% in October), non-energy industrial goods (0.3%, stable compared with October) and energy (-1.1%, compared with -0.9% in October).
Euro is currently being traded around 1.0630 area. Pair is likely to find support around 1.0580 handle and resistance above 1.0670 level.
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