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European markets rise, US futures up ahead of FOMC

FXstreet.com (Barcelona) - The German DAX 30 (+0.81%), the French CAC 40 (+1.10%), the Italian FTSE MIB (+1.10%) and the Spanish IBEX 35 (+1.70%) are edging higher on Wednesday after the release of a better EMU current account surplus than expected, easing from €16.0B to €14.8B in January, higher than €7.9B consen-sus. Investors are digesting everything that has happened yesterday, including the Cypriot Parliament rejection of the bailout deal and the Cypriot Finance Minister resignation.

Germany sold €3.358B 10-year bunds at 1.36% average yield, improving from the previous 1.66%, but failed to reach the targeted amount of €4B.

The British FTSE 100 (+0.39%) is edging higher after the BoE March meeting minutes and a disap-pointing jobless claims count report in the UK. Investors are eyeing what comes next: UK budget re-port at 12:30 GMT.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones are signaling a higher opening be-tween +0.55% and +0.80% ahead of the US FOMC decision and press conference.

Forex: NZD/USD trading unevenly at 0.8220/25

The NZD/USD has traded unevenly Wednesday, having oscillated sporadically between a fairly narrow trading range during the European session. In recent minutes however, the cross has managed to edge higher towards 0.8220/25.
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Forex Flash: US FOMC may lift EUR/USD, Cyprus euro exit to relieve investors – TD Securities

Markets wobbled yesterday with the “worst case scenario” in Cyprus, as the government rejected plan A (deposit confiscation) without a plan B in place. Now, we have to wait but anything resembling a deal (with Russia or Europe) that avoids insolvency and a euro exit will likely be greeted with relief by investors”, wrote analysts Shaun Osborne and Greg Moore, seeing the Cypriot on the back burner today.
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