EUR/USD Moves Down, Euro Area CPI Eases

EUR/USD is trading at 1.0498, down 0.0041. Eurostat reported that January CPI (Consumer Price Index) for the Euro area fell 0.8 percent versus a rise of 0.5 percent in December. Year over year Euro area CPI rose 1.8 percent versus a 1.1 percent rise in December. Year over year core CPI for the Euro area rose 0.9 percent during January versus a rise of 0.9 percent in December.