TIC data is among the most difficult of the monthly data to interpret as there are a lot of moving parts. The headline shows outflows of $97 bln in February after outflows of $146.8 bln in January.

Economists look at the net long-term flows net of swaps as the most important component, and that shows a $22 nln inflow after a $37 bln outflow in January.

Official inflows were steady at $9.3 bln.

The market is completely ignoring the data with EUR/USD steady at 1.3175.