Market Vibrations: News And Commentary From The Europe Desk (0730 GMT)

By Research Team,

1130: Today'sGerman bond auction has seen narrowing spreads, but has fallen shyof the target amount. Continuing with the Greek saga, a senior EUdiplomat has said further talks on Greek bond swap will be held inWednesday's EU teleconferance summit.

0930: TheIMF's Lagarde hassaid she will ask the IMF board to approve a new loan plan toGreece to the tune of EUR 28bln over four years. A vote is plannedfor March 15th. The loan is meant to compliment Greek ability topay its new debt restrucuring agreement with Europe. Meanwhile, Germanwholesale price index came out as expected, while Italian GDPnumbers were slightly above expectations on a year-over-year basis(-0.4% vs. -0.5% expected). Eleswhere, the German FinMin Schaeuble hassaid that deficit spending wrong way to boost economic growth andthat advocates of this strategy have "learned nothing" if theyadvocate growth-inducing measures without budget consolidation.

0730: The newweeks opns with risk-correlated, high-yielding currenciesstruggling to regain losses versus safe haven alternatives. Risksentiment was not helped by during today's Asians session by newsChina's trade balance plunged in Feburary. Meanwhile, Japanesemachine orders rose sharply on the months, and consumer confidenceheld steady. Today is expected to be a light session on theEuropean data front, but stay tuned for Italian GDP numbers laterin the day abd we will let you know if we see any marketdevelopments.
DailyFX is the forex news and research arm of FXCM, Inc (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.

Original Article: http://www.dailyfx.com/forex/market_alert/2012/03/12/Market_Viobrations.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.

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