Latest data released by Eurostat — 2 March 2018
- Prior m/m +0.2%; revised to +0.1%
- PPI y/y +1.5% vs +1.6% expected
- Prior y/y +2.2%
Pretty much in line with expectations, a little lower compared to prior figures. But once again as mentioned in the preview, it’s not a major data point as it is a lagging indicator on inflationary pressures in the Eurozone.
But the declining trend will surely raise a few question marks if it persists down the road.
EUR/USD now at 1.2280, a little higher on the day but still trading in a range. EUR/GBP at 0.8918 at session highs. EUR/JPY down to 129.80 on the day.