The disappointing US non-farm payrolls report on Friday highlighted the fact that the US economy is sailing through troubled waters and led traders to seek shelter in the US Dollar. This has raised speculation that the Federal Reserve might resort to quantitative easing to tackle the situation. Market focus today rests on the European finance ministers meeting where more clarity on the measures undertaken at the EU Summit is sought. The ECB President’s testimony to the European parliament later today will also be eyed for the rationale behind last week’s monetary policy stance.
At home, traders stay braced for tomorrow’s crucial industrial and manufacturing production data.
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