Market Vibrations: News and Commentary from the Europe Desk (1200 GMT)
1200 GMT: Risk sentiment has taken a pretty big hit today on fears of a delay in Greek PSI developments. Chinese data not helping sentiment. Equity markets are taking a pretty bigt beating; check out "global equity monitor."
0940 GMT: UK Halifax house prices have come out lower than expected (-0.5% vs. expected 0.3% MoM). Eurozone GDP is up next. The Euro is down today following unconfirmed talk of a potential delay in the Greek PSI deadline. A note from the IIF on EUR 1trl losses on a Greek default is not helping sentiment.
0725 GMT: European tarde kicks off today after a fairly lackluster Asian session. Overnight, the RBA left Aussie interest rates unchanged as was expected by most. The RBA lefting open the possibility for lower rates should the global economy cool further, noting that Chinese growth has started to falter. Elsewhere, UK retail sales fell while Japanese wages showed sign of increasing. Stay tuned for Eurozone GDP figures later in the European session.
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