We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
Euro zone inflation goes down in January, although core rate tacks on
In January, euro zone inflation headed south, although core rate managed to grow.
Inflation stepped down in the euro zone in January, which is in line with market hopes, as follows from a first forecast from the EU's statistics agency. Nevertheless, core inflation demonstrated a jump.
Inflation in the European Union went down to 1.3% versus December’s outcome of 1.4%, which is in line with experts’ hopes. By the way, Eurostat's flash estimate for January doesn’t come with a month-on-month calculation.
The sag took place simply due to a slower soar of unprocessed energy and food prices.
The former rallied 1%in January versus a 1.9% leap in December. As for the latter, it gained 2.1% from December’s reading of 2.9%.
Calculated excluding these two most fluctuating components, or what the European Central Bank labels as core inflation it edged up to 1.2% from 1.1% in December versus hopes for a moderate dive to 1%.
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