The poor demand at Spain's debt auction yesterday sparked fears of an escalation of the European debt crisis and weighed on the Euro. The focus has now shifted to French bond auctions and German industrial production data due later today. With an extended weekend ahead and crucial US non-farm payrolls due tomorrow, traders are likely to remain cautious in today’s trading session.
At home, monthly industrial production has revealed a rebound for February, following a series of strong PMI figures released earlier this week. Meanwhile, the BoE’s monetary policy meeting due later today is not expected to garner much market interest.
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