EMU: Flash Annual CPI at 1.8% in January

According to preliminary data released by the Eurostat on Friday, year-over-year Eurozone inflation was at 1.8% in January, following 2% in December.

Mar 1, 2013

EMU: Unemployment Rate at 11.9% in January

Eurozone Unemployment Rate hit a new historic high of 11.9% in January, following 11.8% in February, Eurostat reported on Friday. Analysts expected the indicator to remain unchanged.

Forex Flash: Overnight sequestration reconciliation has failed – UBS

Last ditch attempts to avert the onset of automatic spending cuts failed in the US Senate overnight. In particular, two bills (one Republican-sponsored, the other from the Democrats) failed to secure enough support and US equities responded by weakening into the close. According to Research Analyst Gareth Berry at UBS, “The stage is now set for the US dollar to benefit from a gradual increase in risk aversion over the coming weeks.”