China To The Rescue

The momentum in today’s trading session has shifted back towards the Euro, on the back of China’s pledge to support the Eurozone in tackling the debt crisis. Meanwhile, European finance ministers have cancelled their meeting due today, citing tepid response to the required austerity measures. However, reports suggest that Greek conservative party leader, Antonis Samaras, may commit to demands from the Troika later today.

Following yesterday’s easing inflation data in the UK, all eyes are now set on the BoE’s quarterly inflation report due later today. Data just released indicates that jobless claims rose more-than-expected for January.

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