Eurozone inflation down at -0.2%

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Wednesday, Jan 07 2015

Eurozone CPI missed market expectations on no change and level of 0.0% and fell to -0.2% in December. Core CPI rose to 0.8%. This negative rate for euro area annual inflation in December is driven by a fall in energy prices (-6.3%, compared with -2.6% in November), while prices remain stable for food, alcohol & tobacco (0.0%, compared with 0.5% in November) and non-energy industrial goods (0.0%, compared with -0.1% in November). The only annual increase is expected for services (1.2%, stable compared with November).

Separate report on Unemployment Rate showed figures in line with market forecasts.The euro area seasonally-adjusted unemployment rate was 11.5% in November 2014, stable compared with October 20144, but down from 11.9% in November 2013. The EU28 unemployment rate was 10.0% in November 2014, down from 10.1% in October 2014 and from 10.7% in November 2013.

After the data euro initially went up and is currently being traded few points above 1.1870 area. Pair is likely to find support around 1.1820 level and resistance above 1.1930 area. Later today, in the US session, ADP job figures, Trade Balance and FOMC Meeting Minutes are scheduled for a release.

More in this category: « German unemployment decreased by 27,000 Private sector employment increased by 241,000 jobs »

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