Euro area core inflation fell to +0.8% YoY in March from +1.0% in February. In line with consensus but second lowest reading on record. Euro-area long-term inflation forwards drifting down and price negative real rates until 2018-2019. It looks like there could be downside for the EUR/USD if ECB decides to add more easing.
Consensus view that March is to be the trough of Euro area HICP inflation before it gradually picks up in the remainder of the year.