Good Morning:
The EUR/USD pair was little changed in the overnight session. Very narrow range bound trading with no clear direction evident.
GBP had a good day as it jumped over the 1.50 mark versus the USD, and rose across the board.
Greek unions protested against the government’s budget cuts and closed hospitals,airports, and schools. Workers walked off their jobs to protest the 4.8 Bil Euro budget cuts. These measures will include wage cuts and tax increases. These drastic measures are necessary to get Greece out of the worst sovereign debt crisis to hit the European marketplace.
In China, retail sales jumped over 20%, and industrial production also rose higher than expected. The Chinese economy is racing forward after last years fiscal stimulus packages. The economy is not only export focused, but has been pushing hard for domestic demand in the past 12 months.
World equity markets were mixed-and US Futures are mostly flat at this time.
Oil:$82.05 Gold:$1106.40
| TIME | FOR | EST | PRIOR | |||
| 8:30A.M. | TRADE BALANCE | JAN. | -$41.0B | -$40.2B | ||
| 8:30A.M. | INITIAL JOBLESS CLAIMS | 6-Mar | 460K | 469K | ||
| 8:30A.M. | CONTINUING CLAIMS | 27-Feb. | 4498K | 4500K | ||
HAVE A GREAT DAY & GOOD LUCK
