January 2015 eurozone HICP flash -0.6% vs -0.5% exp y/y

• Prior -0.2%
• Core 0.5% vs 0.7% exp y/y
• Energy -8.9% vs -6.3% prior

Look at that, EUR/USD bounces 22 pips to 1.131 on the softer numbers. That core number is looking very dangerous now but as I said yesterday, the market is seemingly not worried about the near term inflation numbers with the ECB locked and loaded for March.

Eurozone HICP & Core yy 30 01 2015