Eurozone Inflation Data

• Core Consumer Price Index (CPI) (y/y) (Feb), fact 1.0%, forecast 1.1%.
• Consumer Price Index (CPI) (y/y) (Feb), fact 1.5%, forecast 1.5%.
• Unemployment rate (January), fact 7.8%, forecast 7.9%.

Preliminary data on inflation in the euro zone for February were very weak.

• Core consumer price index (CPI) in the eurozone slowed down, departing from the annual rate of 1.1%.
• The eurozone consumer price index (CPI) remains close to annual lows.

As a result, an inflation report in the Eurozone can be regarded as restrainedly negative and one that will put pressure on the euro. At the same time, an employment data in Germany and the Eurozone was also released today, which showed a decrease in the unemployed in Germany and the lowest unemployment rate in the Eurozone since 2009. It soften partially the negative effect of weak inflation data in the eurozone.

Fig. 1. Eurozone Core consumer price index (CPI) (y) chart

 

The EUR/USD pair is trading down, limited to support levels: 1.1360-50 and 1.1330, and oversold. As a result, attempts of correction and flat formation are possible.

Fig. 2. EUR/USD chart. Current price – 1.1360

Read also: “What is the Monetary Policy and the Tools for its Regulation”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. To increase or not to increase, the difficult choice of the US Federal Reserve
2. Ichimoku Kinko Hyo – simple application of a difficult indicator
3. ZIGZAG – not simple properties of a simple indicator!

Current Investment ideas:

1. Ready instruction to income! Earn with #CAT!