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European markets higher as EU leaders meet

The German DAX 30 (+0.74%), the French CAC 40 (+0.58%), the Italian FTSE MIB (+1.16%) and the Spanish IBEX 35 (+1.07%) are edging higher on Thursday as EU leaders meet for the two-day Summit with focus on promoting growth while unemployment looms.

EMU employment dropped -0.3% in Q4 (QoQ), but Q3 data was revised higher from -0.2% to -0.1%. The year-on-year figure fell from -0.6% (revised from -0.7%) to -0.8%. The Greek unemployment rate moved higher in Q4 2012, from 24.8% to 26%.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones are signaling a higher opening between +0.13%-+0.30% ahead of US jobless claims and PPI. "Just second-tier data today, with PPI for February, which is expected to remain subdued at sub-2%, as well as weekly jobless claims, which are expected to tick 10K higher to 350K", wrote TD Securities analyst Alvin Pontoh.

Forex: USD/CAD trading negatively at 1.0273/76 ahead of US PPI

The USD/CAD operated in a very narrow trading range Thursday, ahead of some key data in the American session later today. Having oscillated between a 28-pip spread (1.0257-1.0285), the cross is now trading in negative territory at a marginal -0.05% loss. In these moments the pair has settled at 1.0273/76.
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Euro: door is wide open for further decline

The bloc currency is testing the area around 2013 lows at 1.2915/20, bogged down by the increased pessimism surrounding the euro area as of late - today exacerbated after the worst employment...
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