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Euro-region governments have to repay more than 1.1 trillion euros ($1.4 trillion) of long- and short-term debt in 2012, according to Bloomberg data. Italy and Spain have about 146 billion euros of bonds and bills maturing in the first quarter, the data show.
European finance ministers yesterday said they will boost their anti-crisis efforts by pledging 150 billion euros to the International Monetary Fund. Four countries not using the single currency also agreed to add to the IMF war chest while Britain refused to commit funds, a sign of the difficulty of attracting outside cash to ease the euro area’s debt burdens
Australia’s dollar rose after the Reserve Bank said in minutes of its Dec. 6 meeting that investment in the domestic economy and “solid growth” among trading partners had tempered the need for lower rates. New Zealand’s currency climbed before a report this week forecast to show an acceleration of economic growth in the third quarter.
EUR/USD: on Asian session the pair holds in range $1.2990-1.3015.
GBP/USD: on Asian session the pair gain.
USD/JPY: on Asian session the pair fell.
On Tuesday European data starts at 0700GMT with German PPI data for November, closely followed by the German GfK consumer sentiment data at 0710GMT. Also today, MEPs are due to discuss the new fiscal compact. The exact time and location is to be confirmed, but this will likely take place late in the European morning. Core-European data is due at 0900GMT, when the German IFO business survey is due and is expected to show slight deteriorations in the Business Climate index to 106, in the Current Assessment to 116 and in Expectations to 97. At 1500GMT, the pace of us housing starts is expected to rise slightly to a 630,000 annual rate in November, offsetting the decline in the previous month. At 1530GMT, the weekly EIA crude oil stocks data is due.
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