Market Vibrations: News and Commentary from the Europe Desk (1030 GMT)
1030: Eurozone employment fell 0.2% in Q4 2011, after falling 0.1% the previous quarter. Meanwhile, Greek unemployment for Q4 has come in at an astronomical 20.7%, up from 17.7% in Q3. Meanwhile, the French debt auction today has seen inproved yeilds overall as the ECB's LTRO spurs investor demand in Europe.
0905: The ECB in its march monthly report has said it sees signs of stabilization in the economy; ECB will ecit crisis measures in a "timely" way. The central bank warned of upside risks in inflation, however, saying inflation will likely exceed the EU target of 2% in 2012. Meanwhile, the SNB has kept policy chages on hold, leaving its interest rate unchanged at 0.00% and reiterating its commitment to the 1.2000 franc ceiling.
0705: Today's European session opens with the news the car registrations in the EU-25 area dropped 9.7% in February. Earlier, we learned that the consumer confidence in New Zealand fell in February, a development which caused Kiwi to remain under pressure for most of the Asian session. Japanese equities remain well bid as the Yen depreciates. Stay tuned for Eurozone employment numbers later in the European session.
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