EUR/USD climbed 0.78%. Eurozone HICP inflation dropped at 0.1% rate.

EUR/USD continues the rally started on Monday. As of 1:00 PM EDT the currency pair was trading at 1.1383, which is 0.78% higher than the previous close.

European shares moderately declined today. Below is mentioned the performance of major indices:

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  • FTSE 100 closed at 6,174.90, down 0.46%.
  • CAC 40 lost 1.34% finishing at 4,385.06.
  • Euro Stoxx 50 was trading at 3,004.93 as of 5:50 PM GMT, which represents a 1.29% decline from the previous close.

According to the Eurostat data released today, the Eurozone Harmonized Index of Consumer (HICP) inflation dropped at an annual rate of 0.1% in March, meeting the analysts’ expectations. Core CPI, excluding fuel and food prices, increased to 1.0% from 0.8% the month earlier, which was above the estimates of 0.9% rise.

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“Looking ahead, euro-zone inflation is likely to remain close to zero in the next few months before edging higher in the second half of the year as negative energy effects finally fade. But it looks set to remain well below the ECB’s target of close to 2%, maintaining pressure on the central bank for yet more policy support” said Jonathan Loynes from Capital Economics.

Data from the Office for National Statistics revealed that UK GDP rose 0.6% in the fourth quarter, revised up from 0.5% figure estimated on February 25. In 2015, GDP increased by 2.3%, higher than previously estimated 2.2%.

A data from the Federal Labor Agency in Nuremberg showed that the number of unemployed people in Germany stayed at a seasonally adjusted 2.73 million.

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I’m a finance specialist with 4+ years of working experience, out of which 2 years as a SME relationship manager at Byblos Bank and 2 years as a Finance Director in a Food & Beverage sector. My academic background include BA in economics, MA in finance, CFA Level 1 and F1, F2, F3 level of ACCA. I’m also experienced in Forex/CFD trading and Forex/ Equity markets analysis.

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