Market Vibrations: News And Commentary From The Europe Desk (0900 GMT)

By Research Team,

1100 GMT: Canadian CPIhas comes in pretty much as expected (0.4% M/M. yearly 2.6 vs.expected 2.7%) fuling some choppy trade in USDCAD. In equitytrading, European stocks are heading back into the red afterearlier gains as bund yieldswiden amid growth concerns

0900 GMT: The SN B has been onthe wires reitering the Swiss commitment to the 1.2000 EURCHF floor,and mentioning that the central bank is prepared to buy unlimitedamounts of FX to enforce its position. Also, the Swiss KOF surveysees Swiss growth at 0.8% in 2012. EURUSDcontinues to drive higher but no clear catalyst yet. We havehowever heard of potential China RRR cut which could factor.

0730 GMT: Anationwide measure of UK consumerconfidence fell to 44 in February from 47 in January. Thisis after the BOE minutes a few days ago warned of high inflationand oil prices negatively affecting consumer confidence in theshort and medium term. The Frenchbusiness confidence indicator has come out better thanexpected.

0600 GMT:European trade opens after risk appetite took a hit yesterday onweak European and Chinese PMIs. In someuplifting news for Europe, the French FinMinhas raised his 2012 growth forecasts for the country from 0.5% to0.7%. The 2012 forecast has been raised to 1.75%. Asian sessionhighlights today included the Japanese FinMin Azumiannoucing that he is starting to compile the temporary next yearbudget from today. Hawkish comments out of the Fed's B ullardovernight as well, with the official saying there will be no QE3unless the economy and inflation outlook deterioratesignificantly.
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/2012/03/23/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.

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