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EUR

UK Consumer Inflation Expectations

The GBP gained mildly against the USD after the release of a slightly better than expected consumer inflation expectation which read 2.5% versus its prior reading of 2.4%.

ECB Monthly Bulletin

The following are statements released from the ECB’s monthly bulletin:

  • Euro zone recovery has begun, but likely to be uneven.
  • ECB believes risks are broadly balanced with persistent uncertainty.
  • They will continue progressive ending of exceptional support measures.
  • Abundant liquidity will be absorbed when the time is right.
  • ECb says recovery remains on track.

EU’s Altafaj on the wires…

Making a speech in Brussels on the topic of Greece, the EU’s Altafaj noted that the EU is ready to act tomorrow if it is necessary and that “there is a Greek solution to the Greek problems”.

Italian Industrial Production m/m

The market had a lack luster reaction to a much better than expected monthly industrial production number out of Itlay of 2.6%; forecast of 0.7% and prior showing of -0.7%. Currently the Eur/Usd trades at 1.3570.

German Trade Balance and CPI

The EUR made a new session low of 1.3576 against the USD after a much worse than expected January trade balance number out of Germany, despite final m/m CPI being slightly better than the prior month. The details of these releases are as follows:

  • Trade Balance - Survey: 14.5B   Actual: 8.0B   Prior: 13.5B
  • Final CPI (m/m) - Survey: 0.2%   Actual: 0.4%   Prior: 0.2%

German Industrial Production m/m

German January industrial output was 0.6%; worse than it’s forecast of 1.1%, but better than its previous reading of -2.6%. Also, construction output was -14.3% and energy output was 8.8% for the month.

Sentix Investor Confidence

Euro-zone sentix investor confidence, which surveys about 2,800 investors and analysts, was -7.5; better than the -8.0 forecast and -8,2 prior reading.

<p>As the market

As the market awaits the US non-farm employment change and unemployment rate in a little over two hours, it showed no reaction to a much better than expected factory order release out of Germany which came in at 4.3% versus it’s forecast of 1.6% and prior reading of -2.3%.

Euro-zone Revised GDP q/q

The market had a muted reaction to the revised euro zone GDP which came in as expected at 0.1%. The EUR/USD is currently trading at .13650

French Jobless Rate Rises

The Q4 jobless rate in mainland France rose to 9.6% from 9.1% in Q3, which may have caused the slight selling of the EUR we have seen over the past few minutes.

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