On the economic front, the preliminary inflation report for Germany showed that consumer prices rose 0.3% on the month. This was slightly below the median estimates of a 0.4% but inflation accelerated from 0.1% previously. On an annualized basis, German inflation rate was seen at 2.1%.
Spain’s preliminary inflation report also released on the day showed a 2.2% increase annually, slightly missing estimates of 2.3% increase.
Data from the U.S. showed that pending home sales snapped a two month decline to rise 0.9% on the month. However, on an annualized basis, pending home sales is still down 2.5%.
Earlier today, the Bank of Japan held its monetary policy meeting. The central bank kept monetary policy unchanged. It said that inflation would increase gradually to 2% but would take more time than expected.
Later in the day, the preliminary inflation report from France will be released followed by the inflation estimates for the Eurozone. Canada will be reporting on the monthly GDP figures and later in the evening, New Zealand will be releasing the quarterly employment figures.
