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Euro higher in a less eventful European part of the session

Friday, Apr 17 2015
It is a steadier European part of the session, without major data releases and with euro edging higher ahead of US figures. Few moments ago Final Eurozone CPI figures were released. Euro area annual inflation was -0.1% in March 2015, up from -0.3% in February, in line with prelim reading. 
 
The largest upward impacts to euro area annual inflation came from restaurants & cafés (+0.11 percentage points), rents (+0.09 pp) and tobacco (+0.07 pp), while fuels for transport (-0.44 pp), heating oil (-0.16 pp) and telecommunications (-0.06 pp) had the biggest downward impacts. 
 
Earlier today, Current Account data was released. The current account of the euro area recorded a surplus of €26.4 billion in February 2015, below predictions on €29.1 billion. This reflected surpluses for goods (€26.2 billion), services (€4.4 billion) and primary income (€7.3 billion), which were partly offset by a deficit for secondary income (€11.6 billion).
 
Euro is currently being traded at 1.08 handle. Pair is likely to find support around 1.0730 area and and resistance above 1.0850 level. Later today, in the US session, CPI and Consumer Sentiment figures are scheduled for a release.
More in this category: « UK Unemployment Rate fell to 5.6% US CPI rose by 0.2% »

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