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US: Reuters/Michigan Consumer Sentiment (flash) rises to 76.3 in February

The preliminary report for February consumer sentiment by Reuters/Michigan points to a rise from 73.8 to 76.3, beating the 74.8 consensus.

Session Recap: G20 comments boost yen crosses, EUR/USD benefits

The session was driven mainly by G20 headlines and some officials' comments. The yen initially strengthened on expectations members of the group of nations could pledge not to target FX rates, but weakened after those expectations were smashed. G20 said just wants to avoid excessive FX volatility, disorderly movements. Much better-than-expected US manufacturing data and Bernanke upbeat comments helped to boost the greenback. Meanwhile, the EUR/USD was dragged higher by the EUR/JPY spike.
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Fundamental Afternoon Wrap: G(20)roundhog day as G20 set to fall in line with G7

With the weekend almost upon, we have taken a look across institutional research released this afternoon and note one distinct theme, namely that the G20 is unlikely to deviate too far from the G7 consensus and Japan will largely avoid being singled out as a currency manipulator. Elsewhere, Europe is noted as being on a long, slow road to recovery, while the UK´s economy appears to be going from bad to worse.
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