Latest data released by Eurostat - 5 January 2018

  • Nov PPI m/m +0.6% vs +0.3% expected
  • Nov PPI y/y +2.8% vs +2.5% expected

A miss there on the core number, as it has stayed at +0.9% for the last three readings. Again, as I mentioned, market may be well paying attention to positioning ahead of the NFP report later today - so there's likely not much of a reaction to the data as we can see.

EUR/USD still at 1.2047 - not much change. But the data point here helps traders moving forward to build further on the inflation view of the Eurozone.