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Global markets found moderate strength overnight as investors took heed to news the Greek government are likely to respond to calls by the European Union to reign in their growing budget deficit, with the government set to announce as much as EUR4.8 billion in deficit cuts. European economic news saw Euro-Zone Consumer Price Index recorded annual growth of 0.9 percent falling in line with economist expectations. Producer Price index rose 0.7 percent against the expected 0.6 percent growth representing an annual contraction of 1.0 percent. Across the channel saw UK construction activity contracted further in February, with the UK PMI Construction failing to meet estimates recording a level of 48.5 from a previous 48.6. Economist had expected a moderate rise to 48.9.
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