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UK: PMI Construction contracts further in February

UK PMI Construction fell to 46.8 points in February, from 48.7 points in January, according to data released today by Markit. The result is against market consensus of rising to 49 points.

David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply comments: “There is barely a crumb of comfort in this month’s figures for the construction industry to ease the continued decline in performance. The dramatic fall in civil engineering activity is particularly worrying, having been the one bright spot in the second half of 2012. Whilst the housing sector has registered mild growth for the first time in nine months, it remains weak compared with its long run average. To add insult to injury, commercial activity declined at a worrying pace.”

Forex Flash: Euro and Pound remain under pressure against USD - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the euro and pound continue to remain under downward pressure against the US dollar with EUR/USD and GBP/USD attempting to break below 1.30 and 1.50 respectively.
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Eurozone: Sentix Investor Confidence deteriorates considerably in March

Eurozone Sentix Investor Confidence tumbled to -10.6 in March from -3.9 in February, Sentix GmbH informed on Monday. Analysts projected much less decrease to -5.2.
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