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European Economics Preview: Bank Of England Minutes Due
The minutes of the Bank of England's August monetary policy meeting is due on Wednesday, headlining a light day for European economic news. All times in ET.
Major economic news released on Tuesday were mostly negative, with German economic sentiment unexpectedly plunging to a 16-month low, while U.K. inflation slowed slightly to 3.1%, although remaining elevated enough to warrant an explanation letter from Bank of England governor Mervyn King to Chancellor George Osborne. Elsewhere, Spanish exports registered strong growth in June.
At 3:30 am, Statistics Sweden is scheduled to release industrial capacity utilization data for the June quarter. The capacity utlization rate stood at 84.9% in the March quarter.
The minutes of the Bank of England's August 4-5 monetary policy meeting is due at 4:30 am. The bank had decided to hold interest rates at the record low of 0.50% and maintain its GBP 200 billion quantitative easing scheme. Analysts expect the meeting notes to show another 8-1 split vote, with Andrew Sentance expected to have voted for a 25 basis points hike for the third straight month.
At 5:00 am, Iceland's central bank is slated to announce its interest rate decision. Analysts expect the Sedlabanki to cut the key policy rate by 50 basis points to 7.50%.
Afterwards at 8:00 am, the Polish statistical office is due to release industrial production data for July. Output is seen rising 12.1% annually, slower than the 14.5% increase in the previous month.
Producer price data for July is due at the same time from the statistical office. Economists expect annual producer price inflation to rise to 3.1% from 1.9% in the prior month.

Investment Intention In New Zealand Residential Property Eases
The number of New Zealanders interested in investing in residential property slumped notably in a year, the annual Nielsen Real Estate Market Report, an online survey sponsored by Realestate.co.nz showed Wednesday.
Last year, one in four of all those surveyed said that their intention was to buy an investment property. Only 12 months later, just one in seven showed interest in buying residential property as a future investment, the lowest level in the history of the annual survey.
At the same time, holders of investment property in the survey showed a 42% decline in intention to sell. There is now a very clear intention among investors who own property to hold rather than sell, which is a clear indicator of why the property market in general has slowed significantly, the report said.
The survey was conducted among 1,225 persons during May and June 2010. In the space of a year, there has been a 24% increase of intention by property investors to seek out private sellers.
"The property boom made it easier for people to predict the market trends. Recent event seem to have muddied the waters over how much, up or down, price has moved," Tony Boyte, Research Director for The Nielsen Company's Online Division said.

Franc Little Changed Amid Swiss Trade Balance Report
Following the release of Switzerland's trade balance report for July at 2:15 am ET Thursday, the franc was little changed against its major counterparts. At present, the franc is worth 1.0440 against the dollar, 1.6242 against the pound, 1.3369 against the euro and 82.30 against the yen.

Franc Mixed Against Majors Ahead Of Swiss Trade Balance Report
Switzerland's trade balance report for July has been slated for release at 2:15 am ET Thursday. Ahead of the report, the franc showed mixed trading against its major counterparts. While the franc fell against the dollar and the euro, it showed choppy trading and the pound. On the other hand, the franc gained against the yen. At 2:10 am ET, the franc traded at 1.0440 against the dollar, 1.6244 against the pound, 1.3373 against the euro and 82.31 against the yen.

Swiss Franc Strengthens To New Multi-week Highs Against Euro And Pound
The Swiss franc rose sharply against the currencies of U.S., U.K. and Europe at 12:30 am ET Friday. As of now, the franc is trading at a 7-week high of 1.3190 against the euro and a 4-week high of 1.6049 against the pound. Against the dollar, the franc is now worth 1.0310.

Yen Bounces Back Against Most Majors
The yen that eased against the currencies of U.S., U.K. and Europe in Asian deals until 11:00 pm ET, bounced back shortly. As of now, the yen is worth 85.30 against the dollar, 132.89 against the pound and 109.23 against the euro.

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