Market Vibrations: News And Commentary From The Europe Desk (0725 GMT)

By Research Team,

1200 GMT: Risk sentiment has taken a pretty big hit today on fears of a delay in Greek PSI developments. Chinese data not helping sentiment. Equity markets are taking a pretty bigt beating; check out "global equity monitor."

0940 GMT: UK Halifax house prices have come out lower than expected (-0.5% vs. expected 0.3% MoM). Eurozone GDP is up next. The Euro is down today following unconfirmed talk of a potential delay in the Greek PSI deadline. A note from the IIF on EUR 1trl losses on a Greek default is not helping sentiment.

0725 GMT: European tarde kicks off today after a fairly lackluster Asian session. Overnight, the RBA left Aussie interest rates unchanged as was expected by most. The RBA lefting open the possibility for lower rates should the global economy cool further, noting that Chinese growth has started to falter. Elsewhere, UK retail sales fell while Japanese wages showed sign of increasing. Stay tuned for Eurozone GDP figures later in the European session.
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Original Article: http://www.dailyfx.com/forex/market_alert/2012/03/06/Market_Vibrations.html

DailyFX is the forex news and research arm of FXCM (NYSE: FXCM), which provides currency trading and brokerage services and is an advertiser on TheStreet websites. Any opinions, news, research, analyses, prices, or other information is provided as general market commentary, and does not constitute investment advice. Dailyfx will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Currency trading involves significant risk of loss. Individual authors may hold positions in the currencies discussed in the article.