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17 Feb 2014
European open: Quiet data day ahead of Eurogroup meetings
FXStreet (London) - Asian equity markets were a sea of green overnight, helped by data showing a record level of credit extended in China in January. New yuan loans came in at CNY1,320bn versus the consensus expectation of CNY1,100bn.
Australian new motor vehicle sales were poor, down 3.5 percent with December sales revised down from 1.7 percent to 1.4 percent.
New Zealand’s performance of services index (PSI) showed the highest level of activity in six years. The BNZ-Business New Zealand PSI for January came in at 58.1, up 0.5 points from December. This was the highest level of activity since November 2007.
We have a very quiet day ahead in Europe and the UK with very little, if any, data in the pipeline. However, the Eurogroup and EcoFin meetings kick off with the usual emphasis on banking union and discussion of a single resolution mechanism.
It is a national holiday in both the US and Canada.
Australian new motor vehicle sales were poor, down 3.5 percent with December sales revised down from 1.7 percent to 1.4 percent.
New Zealand’s performance of services index (PSI) showed the highest level of activity in six years. The BNZ-Business New Zealand PSI for January came in at 58.1, up 0.5 points from December. This was the highest level of activity since November 2007.
We have a very quiet day ahead in Europe and the UK with very little, if any, data in the pipeline. However, the Eurogroup and EcoFin meetings kick off with the usual emphasis on banking union and discussion of a single resolution mechanism.
It is a national holiday in both the US and Canada.