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Portugal FinMin: Country’s deficit risen same as EU average

Posted:

Markets are especially nervous regarding Europe At time of Greek crisis inefficiencies of euro zone became clear Hopes EU takes clear steps in March to create crisis management mechanisms All euro members have to adopt policies for euro stability We are used to seeing markets overshooting

Riksbank Ingves: Higher Risk Of Hikes At Each 2011 Monpol Mtg

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FRANKFURT (MNI) - Riksbank Governor Stefan Ingves sees an increased risk that interest rates will need to be hiked at each of the central bank's 2011 policy meetings, minutes from the Riksbank Executive Board's monetary policy meeting on 14 February 2011 show. ...

EUR/USD rallies strongly; notable buyer seen

Posted:

Sources note a UK clearer has been a particularly aggressive buyer of EUR/USD in recent trade. Stops have been tripped above 1.3800 and we've been as high as 1.3827 so far, presently at 1.3822. Obviously 1.3850 barrier option interest now looms large, with sell orders lined up just ahead of said level. UPDATE: ...

Some USD/JPY flows

Posted:

USD/JPY touch firmer in early European trading, presently at 81.78. Buy orders seen clustered 81.50/60, stops just below there. More stops through 81.25. Sell orders clustered 82.00/10. Maybe some light buy stops just above there, but haven't got confirmation of such as yet.

German EconMin: Size Of EFSF Should Not Be Increased – Press

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FRANKFURT (MNI) - The Eurozone rescue fund should not be increased but rather its full volume should be made available, German Economic Minister Rainer Bruederle said in an interview with German daily Frankfurter Allgemeine Zeitung published on Monday. "First of ...

ECB Nowotny: EMU Will Not See North/South Divide – Press

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FRANKFURT (MNI)- The Eurozone will not be split into separate northern and southern currency blocs, European Central Bank Governing Council member Ewald Nowotny was cited as saying in German daily Handelsblatt on Monday. A split between North and South ...

EUR/GBP steady early as month-end gets underway

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Sits at .8545 from around .8540 when I arrived. Well it's month end, so I guess we'll see the usual Bundesbank month end demand at some juncture. Just something to bear in mind.

European stocks open generally marginally easier

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DAX and CAC 40 off -0.3%, FTSE off mere -0.1%. On the flip side Ireland's ISEQ up +0.2%.

BIS seen selling EUR/USD

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Haven't been given level/s, but I'd hazard a guess up around 1.3786 session high. We're presently back down at 1.3770.

FRANCE DATA: Jan PPI +0.9% m/m, +5.6% y/y; Dec: m/m,.

Posted:

FRANCE DATA: Jan PPI +0.9% m/m, +5.6% y/y; Dec: +0.9% m/m, +5.4% y/y --Jan manufacturing PPI +1.0% m/m, +5.4% y/y --Jan oil product prices +3.7% m/m, +30.6% y/y --Jan food and tobacco prices +0.5% m/m, +3.9% y/y --Jan industry import prices +1.1% m/m, +9.4% y/y See Mainwire for more details

French January producer prices +0.9%

Posted:

As expected.

German EconMin Bruederle: Euro rescue fund should not be increased

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German stand on this issue alreay well-documented. Full use of EFSF could be made by lending from fund at different rates

Burn the rhetoric, by all means, but not the bondholders

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"Burden sharing" with senior bondholders runs contrary to the national interest, writes Donal Mahony in The Irish Times.

Germany’s Imported Goods Inflation Slowed In January

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January: +1.5% m/m, +11.8% y/y December: +2.3% m/m, +12.0% y/y -- BERLIN (MNI) - German import price growth slowed in January, the Federal Statistical Office reported on Monday. ...

German January import prices +1.5% m/m, +11.8% y/y

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Stronger than median forecasts of +1.0%, +11.2% respectively.

Ifo’s Sinn: Events in Libya alone are not a risk for growth

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No bottlenecks yet for oil supply Sees no weakening of growth path Not against euro rescue mechanism, but banks, other creditors must contribute

True Finns threaten debt bailout as April election nears

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Bloomberg article

EUR/USD sees little net change during Asian trade

Posted:

EUR/USD sits at 1.3760, very marginally firmer from North American close Friday down around 1.3745. Euro zone data due today: 07:00 GMT: German import prices for January expected +1.1% m/m, +11.2% y/y 07:45 GMT: French producer prices for January expected +0.9% m/m, +5.6% y/y 10:00 GMT: Euro zone CPI for January expected -0.6% m/m, ...

Japan Jan Construction Orders -10.7% Y/Y, 1st Fall in 2 Mths

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TOKYO (MNI) - The value of construction orders received in January by the 50 largest contractors in Japan fell 10.7% from a year earlier to Y598.0 billion, the first year-on-year fall in two months, the Ministry of Land, Infrastructure, Transport and Tourism said on Monday. ...

Japan Jan Housing Starts +2.7% Y/Y, 8th Straight Y/Y Rise

Posted:

-- Japan Jan Housing Starts at Annualized 847,000 Units TOKYO (MNI) - Housing starts in Japan rose 2.7% in January from a year earlier to 66,709 units, posting the eighth consecutive year-on-year rise, the Ministry of Land, Infrastructure, Transport and Tourism said Monday. ...

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