- Fitch downgrades three Australian banks
- Indian FinMin: BRICs strategy on euro zone bailout to be discussed next month
- Greek FinMin: Greece’s dilema is austerity, or face economic collapse
- German Q4 GDP final GDP confirmed -0.2% q/q, +1.5% y/y, as expected
- French February consumer confidence index 82, up from 81 in January and as expected
- Italian December retail sales s.a -1.1% m/m, -3.7% y/y. Month on month drop steepest since July 2004. Year on year fall steepest since March 2009
- UK Q4 GDP -0.2% q/q, +0.7% y/y vs previous -0.2%, +0.8% y/y
- ECB’s Liikanen: ECB never said there’s an interest rate floor
- ECB’s Nowotny: Feeling in ECB council is that it is now time to wait and see after 3-year tenders
- ECB’s Coeure: Eurozone economy will recover gradually in 2012
- German showdown with IMF looms as Bundestag blocks rescue funds – AEP at The Telegraph
USD/CHF down at .8980 from early .9015, and this despite reports of SNB buying below .9000. EUR/CHF down slightly at 1.2045 from early 1.2055. Talk that SNB has been selling swiss francs in the cross as well this morning.
EUR/USD up at 1.3413 from early 1.3365, having been as high as 1.3418, with real money sell orders touted in 1.3410/20 area so far capping ascent.
Trailing sell stops now seen through 1.3365 and 1.3340. On topside, next technical hurdle for euro bulls is 1.3435 (50% retracement of 1.4248/1.2624)
USD/JPY touch firmer at 80.50 from early 80.35, having been as high as 80.64 so far. Talk of 80.95 being important technical resistance on top.
