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Spanish CPI fell more than expected

According to the flash estimate published by the INE, the annual inflation of the CPI in February 2016 is -0.8%. Analysts were expecting 0.5% decrease. This indicator provides a preview of the CPI that, if confirmed, would imply a decrease of five tenths in its annual rate, given that in January this change was -0.3%.This decrease is mainly explained by the decrease in the prices of fuels (gas and diesel oil) and food and non-alcoholic beverages. 
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EUR/USD Daily Forecast – 26 February

Yesterday's sesssion brought M3 Money Supply data. The annual growth rate of the broad monetary aggregate M3 increased to 5.0% in January 2016, from 4.7% in December, averaging 4.9% in the three months up to January. Analysts were expecting no change.The annual growth rate of the narrower aggregate including currency in circulation and overnight deposits (M1) decreased to 10.5% in January, from 10.8% in December.

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EUR/USD Daily Forecast – 26 February

Euro was initially pushed lower in the course of the yesterday's session but found area around 1.0980 handle to be supportive enough in order to rebound and break once again above 1.10 handle, but with resistance near 1.1050 level. As for tomorrow, pair is likely to find some amount of support around 1.0950 and 1.0930 level in extension, as it was the case yesterday, while area around 1.1050 level which was previously supportive should offer some amount of resistance, at least initially, and then 1.1080 level in extension. Read more...

M3 increased to 5.0% in January

The annual growth rate of the broad monetary aggregate M3 increased to 5.0% in January 2016, from 4.7% in December, averaging 4.9% in the three months up to January. Analysts were expecting no change.The annual growth rate of the narrower aggregate including currency in circulation and overnight deposits (M1) decreased to 10.5% in January, from 10.8% in December.  Read more...

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