EMU inflation slows down
Bitcoin trades in the vicinity of $10k mark
DOE report and FOMC meeting in the spotlight
European benchmarks erased part of its initial gains, however they still remain in green. New Zealand dollar is the strongest currency amid G10 basket while the US dollar is the weakest. Oil prices move sluggish ahead of the DOE report. Gold inches higher amid USD weakness.
As broadly anticipated euro area inflation slowed down in January to 1.3% yoy from 1.4% yoy in December, however, it exceeded the median forecast at 1.2% yoy in a Bloomberg survey. Do notice that the decline stemmed mainly from a base effect as oil prices jumped substantially at the turn of the past year.
Bitcoin finally slipped below a magic $10k mark yesterday afternoon fuelled by the report that Facebook was banning all ads promoting digital currencies, including Bitcoin of course, in order to prevent users from advertising what the company was calling "financial products and services frequently associated with misleading or deceptive promotional practices".
In Europe stock markets inched higher on the opening. The German manufacturing sector is going through a tough times as the wage negotiations between IG Metall and industrial giants, including Siemens and Daimler, failed to provide solution satisfying both sides.
In spite of the fact that the US dollar is again the weakest currency among its major peers in the G10 basket, the Australian dollar is doing not well and trading almost flat on the day. This stems from a package of the data both domestic and foreign.