EUR/USD Trading Lower, Italy's CPI Steady

EUR/USD is trading at 1.0498, down 0.0042. Italy's National Institute of Statistics (ISTAT) reported that January CPI (Consumer Price Index) rose 0.3 percent versus a rise of 0.4 percent in December. Year over year Italy's CPI rose 1 percent versus a rise 0.5 percent in December. The harmonized index of consumer prices (HICP) in Italy fell 1.7 percent in January versus a rise of 0.4 percent December. Year over year Italian HICP rose 1 percent versus a rise 0.5 percent rise December.