Disappointing US manufacturing figures cast recovery doubts
Euro edged higher against the dollar this morning after disappointing US manufacturing data on Monday
US house sale recovery held back
Fewer Americans signed contracts to purchase previously owned homes in February because of limited inventory and access to credit
US durable goods rise 5.7%
Figures beat expectations from previous reading at -3.8%, while Case-Shiller Home price index posts another strong reading
Further concerns for Eurozone recovery
Spanish PPI was down 0.3% to 2.1, while Italian Consumer Confidence drops 85.2 down from a previous reading of 86
Cyprus agrees €10bn bailout
Markets are set to trade positively today although there has been limited reaction so far to funding announcement for Cypriot banking system
Cyprus will get ELA until Monday
European Central Bank confirms it would ‘maintain the current level of Emergency Liquidity Assistance until Mar. 25, for Cyprus as the region struggles to secure a bailout
Cypriot government in Russia talks
Troubled island seek external assistance, but bad news may continue to drag on as EU looks to keep commercial banks in Cyprus closed for the rest of the week
ECB meet in Frankfurt over Cyprus
European Central Bank will decide today whether to give Cyprus more time or consider cutting off liquidity to the country’s banks
Cyprus bailout plan pushes euro sharply against the dollar
Traders concerned that investors across the eurozone could panic and scramble to move their capital out of the region
Eurozone wage growth slowed sharply in late 2012
As unemployment rises, news dashing hopes that falling inflation would boost real incomes and support growth this year