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Forex Flash: Another quiet day for Europe - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that it looks like another quiet day ahead for Europe, much like yesterday.

He writes, “There is little news from continental Europe so the focus will be mostly on the industrial production data from the UK.” He sees that there were strong gains recorded in December and hence the consensus is for little change in January. Further, he feels that the risks would appear to be skewed to the downside considering that cold weather and snow may have impacted activity. He finishes by writing, “Furthermore, the plunge in the manufacturing PMI from 50.5 to 47.9 in February suggests some marked slowdown is taking place in the first quarter. A weak figure is probably fully priced at this stage but the pound remains vulnerable to incoming weak data that backs up the need for further BOE easing.”

Forex Flash: Wheeler eyes mounting inflation amidst record housing prices – UBS

Data released overnight showed that regional house prices in New Zealand hit yet another record high in February – house prices in Christchurch and Auckland were amongst the worst affected. Building consents are rising too, recently hitting levels last seen just before the Global Financial Crisis struck when the overnight cash rate was 8.25% (not today's level of 2.5%).
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Forex Flash: US outlook in a nutshell - Nomura

Nomura economists have taken a look at the US economy and have presented a nutshell summary of the key points they see looking forward,
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