5/1/2016 10:18:25 AM
EUR/USD weakened on Tuesday, as the pair trades at 1.0770 in the European session. On the bright side, German and Spanish Unemployment Change weakened more than anticipated. The EUR keeps on sliding, as EUR/USD is down some 170 points. The pair is trading at its lowest levels, on which the EUR posted vast gains following the ECB policy meeting which saw the ECB balk at any substantial monetary moves. Economic data out of the Eurozone is certainly not helping substances. Eurozone annual inflation came in at 0.2%, short of the estimate of 0.4%. The key indicator was dull in 2015, in which its strongest monthly gain was only 0.3%. Eurozone Core CPI was stronger, with a 0.9% gain, but the inflation picture in the union remains bleak as we head into 2016.