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Troika suggests extending loan repayment for Portugal and Ireland by seven years

FXstreet.com (Barcelona) - According to Reuters, Troika officials issued a statement on Wednesday in which they urge EU policymaker to grant Ireland and Portugal seven more years for bailout loan repayment. This would help the countries return to full market financing.

The proposition will be discussed by EU finance ministers who meet in Dublin this weekend. Extending the repayment plan for Ireland will most probably receive full backing, but Portugal might be required to come up with new austerity measures first, to meet the budget gap of about 1.3 billion euros.

The budget gap emerged after the Portuguese Constitutional court ruled last weekend that four of the austerity measures proposed by the government in the 2013 budget were illegal.

Forex Flash: Bunds test 13-day MA – RBS

Bund prices are testing the trendline and 13-day moving average, which all lie very close to the 145.46 level, being the 150% Fibonacci projection from the February-March impulse wave. According to Technical Strategist Dmytro Bondar at RBS, “This is an important point, as if the breakout is confirmed on close, it would suggest a change in market sentiment. The first support lies at 145.11, then 144.68. Below that a major support level would be 144.00. A close above the trendline would bring hopes for the bulls.”
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Forex: EUR/USD toying with 1.3100, FOMC eyed

The bloc currency is flirting once again with the key 1.3100 figure on Wednesday, as markets participants left behind the poor industrial data from Spain and Italy and are now focusing on the FOMC...
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