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European Economics Preview: Eurozone M3 Data Due

European Economics Preview: Eurozone M3 Data Due

Producer prices from France and private sector credit from Eurozone are the major statistical reports due at the start of the week, headlining a light day for the European economic news.

The meeting of G20 finance ministers and central bank governors held over the week end in Mexico demanded Europe to strengthen its bailout fund before leading economies provide extra support to raise the resources of the International Monetary Fund.

At 2.45 am ET, the French statistical office Insee is scheduled to issue producer price figures for January. Annually, producer prices are forecast to rise 4.1 percent after increasing 4.7 percent in December.

The European Central Bank is scheduled to issue euro area M3 money supply for January at 4.00 am ET. Annual growth in M3 is forecast to rise to 1.8 percent from 1.6 percent in December.

In the meantime, Italy's business confidence is due. Business sentiment is forecast to fall to 92 in February from 92.1 a month ago.

Germany's Bubill auction is due at 5.00 am ET. The government target to raise EUR 3 billion from the issue of securities maturing on February 2013.

In the meantime, Italy aims to raise a maximum of EUR 8.75 billion from 6-month treasury bill auction and EUR 3.5 billion from flexible T-bills.

by RTT Staff Writer

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