Market Vibrations Hourly Updates: March 29

By Research Team,

11:46GMT: France's economy minister hasbeen on the wores, saying France has avoided a recession and thatthe French economy will rebound in 2012's second half.Meanwhile, MorganStanley has upped its forecastfor global economic growth in 2012 from 3.5% to 3.7%.

10:30GMT: Consumer confidence in the 17-member Euroarea declined in March, missing expectations and providing fodderfor speculation that Europe has not yet emerged from the recentfar-reaching debt crisis. A gauge of European consumer confidencecame in today at -19.1, worse than the previous -19.0 which wasalso the number economists had predicted for today. Meanwhile,Italian bondspreads continue to narroe intoday's auction.

09:30GMT: German unemployment fell by 18,000 duringthe month of March, the Federal Labor Agency said today in arelease. The drop in unemployment numbers beat analysts’estimates by 8,000. Germany has 2.84 million unemployed people. Theunemployment rate fell from 6.8% to 6.7% over the same period,reaching a two decade low

08:30GMT: S&P's Kraemer has been on the wiresdiscussing the potential European rescue fund. He said a EUR 940blnfund is "more than most would expect." ECB officials earlier voicedsupport for combining the ESM and EFSF.

07 : 30 GMT: Quiet Asian trade intothe European open with EURUSD staying within a 30point range. The Yen could see a boost from stronger than expectedretail sales data out of Japan earlier in the Asiansession. Meanwhile, the leaders of BRICS (Brazil, Russia, China,India, and South Africa) have voiced concern on the state of theglobal economy, mentioning that developed nations need to carefullyprevent excess liquidity.

Meanwhile, UKnationwide house prices fell 1.0% in March on the month (0.2% riseexpected). Stay tuned for German unemployment numberslater in the session.

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Market Vibrations provides hourly updates from the European session.
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/2012/03/29/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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