From Eurozone, Current Account, data was released. The current account of the euro area recorded a surplus of €25.5 billion in December 2015. This reflected surpluses for goods (€26.5 billion), services (€4.6 billion) and primary income (€5.5 billion), which were partly offset by a deficit in secondary income (€11.2 billion). According to the preliminary results for 2015 as a whole, the current account recorded a surplus of €314.0 billion (3.0% of euro area GDP), compared with one of €245.6 billion (2.4% of euro area GDP) in 2014.
In the US session
Unemployment Claims and Philly Fed Manufacturing Index figures were published. In the week ending February 13, the advance figure for seasonally adjusted
initial claims was 262,000, a decrease of 7,000 from the previous week's unrevised level of 269,000. Analysts were expecting increase to 275,000. The 4-week moving average was 273,250, a decrease of 8,000 from the previous week's unrevised average of 281,250.
Separate report, on Philly Fed Manufacturing Index for current activity, showed that index increased from a reading of -3.5 in January to -2.8 in February and has now been negative for six consecutive months. The index for current new orders remained negative and edged down 4 points, to -5.3. Firms reported an increase in shipments; the shipments index remained positive for the second consecutive month but fell 7 points from January. Firms reported continued declines in inventories, and the inventories index remained negative. Firms’ backlogs of unfilled orders were in decline again this month, and delivery times were shorter, according to the responding firms.
There will be no major data releases from Eurozone tomorrow. In the US session CPI figures will be published. Analysts are forecasting 0.1% decrease.
Figures to watch:
CPI (Friday 14:30)
