Italy Comes to Rescue

andres del risco

Encouraging comments from the Italian Prime Minster claim that the nation can help persuade Germany to support Euro bonds. Positive German and French consumer confidence data released earlier today have also helped in soothing worries surrounding the Eurozone debt crisis. This comes as a respite for the Euro following yesterday’s dismal manufacturing data across Europe. In the UK, downward revision to the UK’s first quarter GDP data yesterday, has further heightened market speculation that the BoE may resort to some easing measures to spur the economy. With little in terms of European macro releases today, Reuters/Michigan consumer sentiment index in the US, due later today will be keenly eyed.

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