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Greece: Bailout deal with the Troika might be delayed

FXstreet.com (Barcelona) - The decision on the disbursement of further bailout funds for cash-strapped Greece might be postponed, sources close to the talks said today. Troika inspectors, who arrived in Athens on Thursday in order to discuss the terms of aid, are said to be dissatisfied with the delays in Greek debt restructuring. That is why the deal will probably not be finalized before the Eurogroup meeting on April 12, as initially expected.

The representatives of the EU, ECB and the IMF returned to Greece yesterday after a three-week break in negotiations, which was made due to a disagreement over a number of unresolved issues. The most important concern the introduction of a unified single property tax, the reduction of the bloated public sector and bank recapitalization.

Forex: GBP/USD erases gains to trade at 1.5223/25

The GBP/USD has eased nearly 10 pips in recent moments to settle in negative territory at the 1.5223/25 handle. Thus far, the pair has managed not sustain a dip below the 1.5200 level, despite a brief earlier setback (1.5199 session low).
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European markets down on EMU GDP, US futures pressured ahead of US NFP

The German DAX 30 (-1.90%), the French CAC 40 (-1.50%), the Italian FTSE MIB (-0.26%) and the Spanish IBEX 35 (-0.88%) are down on Friday after the release of the first reading for GDP Q1 2013, coming at -0.6%. EMU retail sales contracted by -0.3% in February, more than the -0.2% expected and after a +1.2% rise in the previous month. The annualized figure rebounded from -1.9% (revised from -1.3%) to -1.4%, while market consensus was pointing to -1.8%. German Factory orders came in at +2.3% (MoM) and 0.0% (YoY) from -1.6% and -2.1%, respectively, surprising investors that were expecting +1.2% and -1.5%. The ECB announced LTRO repayments of €8.064bn from 20 banks, with the amount split roughly evenly between the first and second LTROs.
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