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Analysts at Danske Bank point out that in the euro area, we get preliminary HICP inflation for February and will be a key economic release for today’s session.

Key Quotes

“From the country HICP figures yesterday, we still expect euro area HICP to come in at 1.5% y/y (up from 1.4% in January, mainly on the back of higher energy prices, but also higher unprocessed food prices). There is downside risk to our expectation for core at 1.1% y/y, as French and Italian service price inflation decelerated, while that of Germany held steady.”

“In the euro area, we also get the unemployment rate for January. In December, it was 7.9%.”

“In the UK, we expect PMI manufacturing to have declined to 51.0 in February. This is still higher than the equivalent euro area index due to stockpiling (Brexit preparations).”

“In the US, the ISM manufacturing is due out this afternoon, which is expected to fall slightly.”