The Euro continued to lose ground against its major rivals as investors fled the currency due to concerns about the state of the Greek economy. The Euro hit a five-month low against the Dollar as PMI figures came in at 53.6%, lower than expected, and an indication of a slowdown in the economic recovery.
- Chinese GDP in Q4 2009 grew at a rate of 10.7%, above most analysts expectations. This took the 2009 figure to 8.7%, above expectations. Attention now turns to how the Chinese may look to rein in growth amid fears of inflation.
- The Bank of China ordered credit officials to stop making new Yuan-denominated loans
- Please note that in corporate news, we are scheduled to see results being released by Goldman Sachs, Google and American Express later on in the day
Major Economic News
INITIAL CLAIMS AND PHILADELPHIA FED