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Euro zone sentix index rises to 17.1 in March

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From 16.7 in February, pretty much in line with median forecast of 17.2. Highest read since September 2007. Meanwhile it didn't much matter whether buy stops through 1.4010 or 1.4015, both levels having given out. We're presently at 1.4015 having been as high as 1.4020. As mentioned earlier, sell orders noted at ...

Update:EU Rehn:Should Lower Lending Rates To Greece, Ireland

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--Adds Details of Commission's Corporate Tax Harmonization Proposal FRANKFURT (MNI) - The European Union should lower interest rates on loans to Greece and Ireland and double Greece's repayment period, in the view of EU Monetary Affairs Commissioner Olli Rehn. In an ...

Germany Bank Economists See 2011 German GDP +3.0%, 2011 +2.3%

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BERLIN (MNI) - The economic panel of the German Banking Association (BDB) on Monday projected robust German GDP growth of 3.0% this year and 2.3% in 2012. "The upswing in Germany has gained in breadth and thus in stability," the ...

Greek 5 year cds rise to 1,005 bps, up 22 bps on day

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After Moody's downgrade. Portuguese 5 year cds rise to 493 bps, up 12 bps on day Spanish 5 year cds rise to 244 bps, up 6 bps on day

Middle East still buying EUR/USD

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Sources report that Middle East seen buying EUR/USD again, this time between 1.3960 and 1.3980. We're back up at 1.3990.

Japan rating agency R&I: May cut Japan sovereign rating before April local elections

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Japan rating and investment information Worried political mess could delay fiscal reforms See greater downward pressures on Japan rating than in January Downgrade would likely be limited to 1-2 notches

Greece says Moody’s downgrade completely unjustified – Finance Ministry

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Timing, size of downgrade are incomprehensible, raises questions Moody's cut ignores euro zone's support to countries with debt problems Downgrade demonstrates rating agencies' lack of accountability Downgrade shows need for tighter regulation of rating agencies

EU’s Rehn: Should Lower Lending Rates To Greece And Ireland

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--Commissioner Notes High Market Expectations For EMU Reform Package FRANKFURT (MNI) - The European Union should lower interest rates on loans to Greece and Ireland and double Greece's repayment period, in the view of EU Monetary Affairs Commissioner Olli Rehn. In ...

Cable tacks on quick half a cent

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Cable up at 1.6295 from around 1.6245 when I arrived. Swiss names have been seen decent sellers of the EUR/GBP cross this morning (down presently at .8575 from early .8600) and this will be helping underpin cable. Probably some light stops above 1.6300 (maybe through Friday high at 1.6305), but haven't gotten ...

Moody’s: Greek fiscal reforms remain very ambitious, have significant implementation risks

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Greece still faces considerable revenue collection difficulties Greece may not meet post-2013 solvency criteria on aid, could cause restructuring Sees risk of voluntary distressed debt exchange prior to 2013

Flat-Earth European Central Bank misreads oil spike again, and kicks Spain in the teeth

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Latest from AEP at The Telegraph

Moody’s downgrades Greece

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To B1 from Ba1, negative outlook. EUR/USD lower at 1.3975.

EUR/USD ticks higher as Europe settles in

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Presently at 1.3995. Sources report Middle Eastern buying. All those lovely petro dollars to diversify. Sell orders noted around 1.4000. Reports have stops through 1.4010 and 1.4015, take your pick. Then sell orders 1.4040/50 ahead of 1.4050 barrier option interest.

France’s Finance Ministry hit by cyberattack in December targetting G20 information – Source

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Oh-eh.

EU urges flexibility on bailout

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WSJ article

Repeat: ECB Paramo: Rate Hike Possible, Need Strong Vigilance

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--Says EFSF Should Be Allowed To Buy Debt --Originally Transmitted Sunday at 15:30 PARIS (MNI) - In what has become a traditional post-meeting excercise for senior officials of the European Central Bank, Executive Board member Jose Manuel Gonzalez-Paramo appeared in a Spanish newspaper interview over the ...

Repeat:BOE King: Imbalances In UK Banking System Remain:Press

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--King: I Had To Comment On Deficit --King: Perfectly Reasonable Case To Raise Rates --King: But To Raise Rates Too Soon Would Be Futile Gesture --Repeating Story Originally Transmitted At 19:25 ET Friday LONDON (MNI) - Bank of England Governor Mervyn King has said that imbalances in the ...

China FinMin Xie: Needs proactive fiscal policy to sustain exisiting projects

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Proactive fiscal policy aims to boost resident income To boost supply of grains, cotton, and food via fiscal policy To use tax measures to boost imports of energy, resources To enhance management of local govt debt

EUR/USD steady during Asian trade

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Sits at 1.3975, effectively unchanged from Fridays' North American close, with Asian range confined to conservative 1.3960-1.3999. Not much in the way of euro zone data this morning: 09:30 GMT: Euro zone sentix investor confidence for March expected 17.2 from 16.7. Major European stockmarkets look set to open down around -0.5%. Continued rise in ...

Japan Jan Coincident Index Rises For 3rd Mth; Govt Ups View

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-- Japan Jan Prelim Coincident Index +2.5 Pts M/M Vs Dec Rev +1.3 -- Japan Jan Prelim Leading CI +0.9 Pts M/M Vs Dec +0.8 -- Japan Jan Leading Index Posts 3rd M/M Rise in Row -- Cabinet Office Upgrades View: CI Shows Signs of Improvement TOKYO (MNI) - ...

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