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5 Mar 2013
Session Recap: Euro recovers but lacks momentum
The European session was mostly driven by the release of European PMI's providing currencies some support. EUR/USD rose toward 1.3180 and Cable to 1.5200 but crosses lacked follow-through. Other major crosses remain well within their recent ranges as investors hold a cautious mood ahead of the ECB and BoE decisions and the so-awaited NFP report. Stocks are broadly higher in Europe, while US equities opened in record territory ahead of the ISM services data.
Main Headlines in Europe (in chronological order):
Spain Markit Services PMI declines to 44.7 in Feb from 47 in Jan
Italy Markit Services PMI down to 43.6 in Feb from 43.9 in Jan
France Markit Services PMI up to 43.7 in Feb
Germany: PMI Services down a notch in February
EMU: PMI Composite falls slightly in February
UK: PMI Services expands to 51.8 in February
EMU: Annual Retail Sales decline slows down in January
S&P probe could foster financial reform
Osborne losing the fight against bank bonus cap
EC may request changes in budget supervision
European markets up on EMU data and Eurogroup meeting
Euro can’t break the spell around 1.3000
Italian bonds recover a little as bargain hunters step in
US: Redbook Index rose 1.3% MoM
Commodities Brief – Silver breaches 29.00 level, WTI crude falls as Friday payroll data eyed
Main Headlines in Europe (in chronological order):
Spain Markit Services PMI declines to 44.7 in Feb from 47 in Jan
Italy Markit Services PMI down to 43.6 in Feb from 43.9 in Jan
France Markit Services PMI up to 43.7 in Feb
Germany: PMI Services down a notch in February
EMU: PMI Composite falls slightly in February
UK: PMI Services expands to 51.8 in February
EMU: Annual Retail Sales decline slows down in January
S&P probe could foster financial reform
Osborne losing the fight against bank bonus cap
EC may request changes in budget supervision
European markets up on EMU data and Eurogroup meeting
Euro can’t break the spell around 1.3000
Italian bonds recover a little as bargain hunters step in
US: Redbook Index rose 1.3% MoM
Commodities Brief – Silver breaches 29.00 level, WTI crude falls as Friday payroll data eyed