The week started yesterday with some downbeat data on the US housing front. This has raised market interest in the nation’s building permits and housing starts data due later today. On the other hand, optimism towards high yield currencies was led by the completion of the initial phase of an auction to settle the credit default swap contracts on Greek government debt.
At home, data just released indicates that while the annual consumer price inflation for February eased less-than-expected, the retail price index climbed more-than-anticipated. This could lead to increased uncertainty regarding the stance on monetary policy.
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