Eurozone February preliminary CPI +2.6% vs +2.5% y/y expected ...Middle East

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Prior +2.8%Core CPI +3.1% vs +2.9% y/y expectedPrior +3.3%The standout here is that core annual inflation continues to remain stubbornly high. Even if it did fall from 3.3% in January to 3.1% in February, it reaffirms that the challenge for the ECB to get this to 2% might be much tougher in the months ahead. The euro has nudged up slightly on the data but this shouldn't change the market's view of a June rate cut - at least for now. This article was written by Justin Low at www.forexlive.com.

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