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UK Treasury Welcomes 1st Public Finance Surplus For Two Years

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Spain PM:To Meet 2011 Deficit Target;Portugal Can Fund Itself

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FRANKFURT (MNI) - Spain has met its deficit target for 2010 and will do so this year as well, Prime Minister Jose Luis Rodriguez Zapatero said in a television interview broadcast Tuesday. There is no doubt that Spain's smaller Iberian ...

Analysis: Jan PSNB Posts Largest Surplus Since July 08

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--Jan PSNB ex financial interventions -Stg3.735bn; median Stg0.3bn --Jan PSNB -Stg5.252bn vs -Stg0.095bn in Jan 10; median -Stg0.4bn --Jan Current Budget Stg8.472bn vs Stg4.139bn in Jan 2010 --Jan PSNCR -Stg14.36bn vs -Stg6.183bn in Jan 09; median -Stg8.5bn LONDON (MNI) - Public Sector Net Borrowing posted its highest surplus for ...

UK DATA: Jan PSNB ex financial interven. median……

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UK DATA: Jan PSNB ex financial interven. -Stg3.735bn; median Stg0.3bn --Jan PSNB -Stg5.252bn vs -Stg0.095bn in Jan 10; median -Stg0.4bn --Jan Current Budget Stg8.472bn vs Stg4.139bn in Jan 2010 --Jan PSNCR -Stg14.36bn vs -Stg6.183bn in Jan 09; median -Stg8.5bn ------------------------------------------------------------------------ Public Sector Net Borrowing (ex fin. interventions) posted a larger than expected surplus ...

UK January public finance data better than expected

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PSNCR -14.360 bln vs median forecast -6.0 bln. Biggest surplus since January 2009. PSNB -5.252 bln vs median forecast 0.7 bln. Biggest surplus since January 2009. Cable up 10 pips post release, presently at 1.6170. Guess there's just no pleasing some people ;) UPDATE: Unusually strong annual growth in income tax receipts. That ...

Germany:Train Drivers Start Warning Strikes Over Pay Conflict

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--Union To Call Ballot For Full-Blown Strike To Start In March BERLIN (MNI) - The German train drivers' union GDL on Tuesday staged a two-hour warning strike in passenger transport service to push through its demands in the current pay round. ...

Germany Sets 1.50% Coupon On New 2Y Note;To Sell E7 Bn Feb 23

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FRANKFURT (MNI) - The German federal government set a 1.50% coupon on the E7 billion in new 2-year notes (Schatzanweisungen) that it will auction on Wednesday, the Bundesbank announced Tuesday. Bids are due by 10:00 GMT Wednesday, February 23 with ...

ITALY DATA: Italian February seasonally adjusted…..

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ITALY DATA: Italian February seasonally adjusted business confidence rose to 106.4 from 105.9 in January, when it reached a five-month low. --The improvement was the result of increased consumer optimism on the future outlook for the economy (94.7 Vs Jan 90.9) and a fall in consumer sentiment ...

Italy February consumer confidence index rises to 106.4

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Versus 105.9 in January. Let's see how global consumer confidence holds up after this horrendous spike in oil prices......

USD/JPY slips lower; buy orders, stops noted

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USD/JPY down at 83.05 from around 83.30 when I arrived. The move comes against the backdrop of increased risk aversion/lower US treasury yields. Sources report hedge fund selling of the EUR/JPY cross this morning. It's down at 112.55 from around 113.20 when I sat down. Back with USD/JPY, buy orders seen clustered ...

Cable trying to steady after sell-off; buy orders, stops noted

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Cable sits down at 1.6142 having been as low as 1.6131 so far. Talk buy orders clustered down at 1.6120/25, before stops through 1.6115 and more through 1.6100. UK public finance data due up at 09:30 GMT. PSNCR for January expected -6.0 bln; PSNB -0.3 bln

Spain PM Zapatero: Confidence returning, does not expect tensions on Spanish debt

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Confident Merkel will back stronger euro zone rescue fund next month despite domestic problems Willing to make deficit reduction legally binding, but constitutional amendment is impractical Will strengthen control on regional government spending Spain to meet 9.3% of GDP deficit goal in 2010, will cut to 6% this year

FRANCE DATA: Nov-Jan sa housing starts +8.3% vs nsa..

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FRANCE DATA: Nov-Jan sa housing starts +8.3% vs Aug-Oct; nsa +26.3% y/y - Nov-Jan sa housing permits +1.8% vs Aug-Oct; nsa +13.5% y/y

ACB buys EUR/USD

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Hardly a shock. We're up at 1.3545 from session low 1.3525.

Japan Mkts Shrug Off Moody’s Warning on Debt But Risks Ahead

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By Yasuhiko Seki TOKYO (MNI) - Japanese financial markets on Tuesday shrugged off a fresh warning on the nation's burgeoning public debt from a U.S. credit rating agency, even as Prime Minister Naoto Kan faces an increasingly tough task of pushing his deficit reduction plan through ...

I’m having……..

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Some technical difficulties this morning. My internet access is extremely slow at the moment. Hopefully it'll be a passing phase. But I'm a little worried. Kids are on half-term and when they wake up and get on their computers things could deteriorate further. So if I disappear altogether you know ...

Swiss January trade balance +1958 mln

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Up from +1257 mln in December. Swiss watch exports rose 16.9% in nominal terms. Elsewhere, UBS consumption indicator for Switzerland came in at 1.68 in January, down from 1.83 in December. EUR/CHF trading down at session low 1.2860, swissy a major beneficiary of the spike in risk aversion as it's a safe ...

EUR/USD on the defensive during Asian trade

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EUR/USD down at 1.3585, off the best part of a big figure from where I left it Monday. We seem to have experienced a classic risk aversion play. Asian stocks hit, oil spiking, US treasury yields lower, dollar, swissy and yen benefitting in the currency markets etc etc. Obviously the Middle East/North Africa ...

Japan Jan Supermarket Sales -0.1% Y/Y, Down 26th Month In Row

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TOKYO (MNI) - Sales at supermarkets in Japan open for at least a year fell 0.1% in January from a year earlier to Y1.087 trillion, posting the 26th straight y/y drop as consumers remained frugal, an industry group said on Tuesday. ...

At least 65 fatalities in NZ earthquake

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The casualty number is expected to rise and our thoughts go out to our readers in the beautiful city of Christchurch.

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