A modest milestone improvement in euro zone inflation added to the single currency's improved bias. For the first time in four months, inflation climbed out of the red with a preliminary reading of zero in April. The modest feat helped allay worries about the bloc descending into a chronic, economy squeezing bout of deflation.
Still, flat lining inflation is no meaningful cause for celebration and shows the economy and the European Central Bank (ECB) have a long road yet to boost inflation back to its near 2 percent target. No improvement this time for unemployment which held at a high 11.3 percent in March.
