The yen and U.S. dollar have firmed a little further in Asian trade overnight, risk sentiment to the fore with Asian stocks trading lower. EUR/USD having closed in North America around 1.3415 is presently down at 1.3370, while EUR/JPY is down at 134.30 from around 135.45.
Risk sentiment certainly hasn’t been helped by a report in todays London Times, that a new IMF forecast will say toxic debt at banks and insurers may increase to a mind boggling $4.0 trillion.
Reports of central bank buying interest in EUR/USD down in the 1.3325/50 area have so far lent some support.
For today economic data releases in Europe are as follows:
0800 GMT: Italian hourly wages (Feb) expected 0.2% m/m, 3.3% y/y
08:30 GMT: UK industrial production (Feb) expected -1.2% m/m, -12.5% y/y
08:30 GMT; UK manufacturing production (Feb) expected -1.5%, -14.2%
09:00 GMT: Euro zone GDP s.a Q-4 final expected -1.5% q/q, -1.3% y/y
