Unemployment and inflation data in the euro area

The unemployment rate in the Eurozone fell in February to 8.5%, against the January value of 8.6%.

• Also, according to preliminary data, the basic consumer price index (CPI) on an annualized basis retained its value at 1.0%.
• The consumer price index on an annualized basis rose to 1.4%, exceeding the previous value at 1.1%.

Nevertheless, this statistics does not have a proper impact on the dynamics of the euro against the US dollar, so the market participants is already focused on data on employment in the US. See “Market Focus”.

Technical analysis: The pair EUR/USD maintains a downtrend in the short term. The main resistance levels are 1.2345, 1.2385. Support levels are 1,2250, 1,2210.

Fig. EUR/USD. The current price is $ 1.2291.

Alexander Sivtsov