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Market Vibrations: Live News and Commentary from the Europe Desk (1155 GMT)

Market Vibrations: Live News and Commentary from the Europe Desk (1155 GMT)

Research, Research Team

1155 GMT: EU's Barroso has said he expects progress on boostinvg IMF aid to Europe by April. The G20 last weekend reiterated the necessity to establish a suitable firewall against economic downturns, and spoke of revamping the IMF so that the fund could be mobilized in a timely manner.

0920 GMT: Germany's chancellor Merkel has been on the wires, saying Germany wants the IMF involved "as much as possible" in the Greek bailout . Meanwhile, Eurozone M3 money supply has come in slightly better than expected at 2.5% on the year versus 1.8% expected.

0730 GMT: European trade is opening now after weekend developments saw significant movement in Yen crosses.The G20 leaders over the weekend made it clear that Europe needs to boost the size of its firewall, something Germany has been reluctant to do. The leaders also discussed reforms to the IMF. Meanwhile, US Treasury boss Geithner has said that risks to the global economy are diminishing. In Australia, PM Gillard has easily defeated a challenge by Kevin Rudd in a Labor Party voteoff. European data is light today, but stay tuned for Eurozone money supply later in the session.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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