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Moody's: Cyprus bailout has negative implications for EU bank creditors

FXstreet.com (Barcelona) - Moody’s rating agency is out with a brief note saying that Cyprus bail-out has negative implications for EU bank creditors. Looking at credit implication for sovereigns, Moody's says in unclear.

Moody’s expands: "The agreement reflects euro area policymakers’ desire to avoid sovereign defaults in addition to Greece... the support package reduces the immediate risk of a Cypriot debt restructuring."

Forex Flash: FOMC unlikely to initiate any major changes - UBS

This coming Wednesday, “the Federal Open Market Committee is unlikely to initiate any major changes,” says strategist at UBS Mansoor Mohi-uddin, who expands: “The Fed will keep its current pace of quantitative easing unchanged, and Chairman Bernanke will continue to stress that 'substantial improvement' needs to be seen first in America's labour market.”
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China House Price Index up to 1% in Feb from 0.8%

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