A key gauge of forward looking euro zone inflation has fallen further in February. The Economic Cycle Research Institute says its Eurozone Future Inflation Gauge (EZFIG) dropped to 86.4 in February from 88.2 in January as consumer prices in the 16-nation block continue to turn down steeply.
The ECRI have said “With the EZFIG falling to a new all-time low in its latest reading, consumer prices are poised to retreat in the months ahead.”
Meanwhile in the forex markets, things have gotten off to a sluggish start this morning. EUR/USD at 1.3425 is effectively unchanged, trading so far confined to a very narrow range as the market awaits the release of the US non-farm payrolls/unemployment data this afternoon.
