Europe Reports Accelerating Inflation in February (FXE) (VGK) (IEV)

Investors may see additional downside to their European holdings today, following data that shows a sequential increase in inflation for the Euro area. Annual inflation in February was 2.4%, up from 2.3% in January. Inflation for February 2010 was 0.8%.

Inflation for the EU was unchanged from January at 2.8%, and an increase from 1.5% in February 2010.

Monthly inflation was 0.4% for both sectors.

In the Euro area, the highest annual rates were: transport (5.7%), housing (4.9%) and alcohol & tobacco (3.5%), while the lowest annual rates were observed for clothing (-2.6%), communications (-0.4%) and recreation & culture (0.0%).

ETFs to watch today, among others:

• CurrencyShares Euro Trust (NYSE: FXE);
  
  
• Vanguard MSCI European ETF (NYSE: VGK);
  
  
• iShares S&P Europe 350 Index (NYSE: IEV);
  
  
• iShares MSCI Germany Index (NYSE: EWG); and
  
  
• iShares MSCI United Kingdom Index (NYSE: EWU).

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