By Research Team, 1050: The ZEW survey outof Germany today showed improving economic sentiment in Germany andthe Eurozone during January. The lone weak area in the survey wasthe current situation category, which was slightly weaker thanexpected in Germany. The survey said economic expectations arepositive for the second month in a row, and credited to improvementto strong German industrial production. Moreover, the ZEW institutesaid there is no chance of a recession in Germany, and thatpositive surprises are more likely. 0920:Inflation numbers out of Italy have come out as expected, showinginflation holding steady at 0.4% on the month. Meanwhile, the EUand IMFhave said in a report that the cost of support for Greece'sfinancial sector is envisaged at EUR 50bln, and that asset salesshould help cut Greek debt by EUR 45bln between 2012-2020. Inrelated comments, Luxembourg FinMin says that increasing the sizeof the regional firewall is not "urgent." 0740: Today'sEuropean session opens with all eyes on the FOMC statementlater today. Market players are interested to see whether or notMr. Bernanke and co. will adopt a less accomodative stance given arecent streak of positive data which some have interpreted assignaling an American resurgence out of the global crisis.Meanwhile, the Bank of Japan kept keypolicy elements unchanged, referencing no increase in interestrates or monetary easing measures. The decision to do so wasunanimous, the central bank said in a statement today. Stay tunedfor the German ZEWsurvey later today.
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