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Eurozone CPI expected to be -0.2% in April

Friday, Apr 29 2016
Euro area annual inflation is expected to be -0.2% in April 2016, down from 0.0% in March. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in April (1.0%, compared with 1.4% in March), followed by food, alcohol & tobacco (0.8%, stable compared with March), non-energy industrial goods, (0.5%, stable compared with March) and energy (-8.6%, compared with -8.7% in March).
 Spain’s gross domestic product rose more-than-expected last month, official data showed on Friday. In a report, Instituto Nacional de Estadistica said that Spanish GDP rose to 0.8%, from 0.8% in the preceding month. Analysts had expected Spanish GDP to rise 0.7% last month.
 
Elsewhere, Federal Statistical Office (Destatis) reported that retail turnover in March 2016 in Germany increased in real terms 0.7% and in nominal terms 0.6% compared with the corresponding month of the previous year. The number of days open for sale was 25 in March 2016 and 26 in March 2015. When adjusted for calendar and seasonal variations  the March turnover was in real terms 1.1 % and in nominal terms 0.9% smaller than that in February 2016.
 
Euro is currently being traded few points below 1.1380 level. Pair is likely to find support around 1.1350 handle and resistance above 1.1430 level. Later today, in the US session, Chicago PMI and Revised Consumer Sentiment figures will be published.
More in this category: « Net Lending to individuals increased by £9.3 billion US Consumer Sentiment on seven-month low »

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