French CPI falls more than expected- CAC 40 futures lower

The latest French CPI report has just been released and to some degree it has been eclipsed by the news emerging from Japan this morning. That said the French CPI data is still important to the CAC 40. French CPI has fallen markedly back below 2%. The annualised reading has dropped to 1.5% and all the other reports on different time frames are markedly lower than forecast too. This news has dented the EUR/USD and not exactly helped the CAC 40 futures much. Now on the one hand this data provides another excuse for the ECB to cut rates and that is denting the currency, bit just at this moment it does not seem to be supporting the opening outlook for the CAC 40 in a few minutes. Strange to see? Yes, perhaps is it rather