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Forex Flash: Weekly rundown, FOMC in focus – Deutsche Bank

FXstreet.com (Barcelona) - The FOMC's policy announcement and Bernanke's press conference on Thursday will take center-stage. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Our US economists do not expect any imminent changes in Fed policy.” Thursday's flash European PMIs will be the focus data-wise following the mixed readings last month. In China, the HSBC flash manufacturing PMI (also on Thursday) will be watched for any bounce back after February's fall - which many blamed the timing of New Year for.

A busy week for the UK is scheduled with the government's 2013 budget (Wednesday) as well as jobless/inflation/retail/government borrowing reports and BoE minutes through the week. In the US we get the latest round of housing data with housing starts and building permits on Tuesday; and existing home sales/house prices on Thursday. Outside of housing, Thursday's Markit PMI and Philly Fed surveys are worth watching.

Forex Flash: EUR/USD downgraded to 1.2000 by year-end – UBS

According to the UBS Research Team, “This year we expect the euro to trade back to 1.2000 against the dollar by year end as America's economy outperforms, the Federal Reserve starts scaling back its asset purchases in the second half of the year, foreign central bank and sovereign wealth fund managers desist from dollar diversification and America's shale energy boom cuts the US current account deficit.”
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Cyprus to cancel Tuesday's bailout vote

The Cyprus' president Nicos Anastasiades has affirmed that he doesn't have enough votes to pass the bailout and levy proposal tomorrow and the government in Nicosia is cancelling the Tuesday vote, according to Antenna TV information.
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