European markets react to Dijsselbloem (North up, South down)

FXstreet.com (Barcelona) - The German DAX 30 (+0.13%) and the French CAC 40 (+0.53%) are up today while the Italian FTSE MIB (-1.35%), the Spanish IBEX 35 (-1.02%) and the Greek ATHEX (-5.36%) fall on Tuesday in reaction to Eurozone President and Dutch Finance Minister Jeroen Dijsselbloem comments, saying that uninsured deposits should contribute to bank rescue before taxpayers. ECB’s Couere replied to Dijsselbloem today, rejecting the idea that the Cyprus bailout is a new model for Europe, adding that there’s no reason to think French banks have the same problem as Cyprus. Also, he indicated that the troubles in Cyprus only show the need for ECB to be independent supervisor of banks in Europe.

The British FTSE 100 is down by -0.20%. UK CBI Realized distributive trades came in at 0 in March, down from 8 and disappointing analysts aiming at 11. However, expectations for April are higher, with forecasted sales from 8% to 15% (highest since December).

Futures for the American S&P 500, Nasdaq 100 and Dow Jones are signaling a higher opening between +0.15% and +0.21% ahead of the load of US data. “For durable goods we expect a 4.0% increase and 1.0% rise ex-transport, but a 1.0% fall in core. Then US S&P/CS Index we see a below consensus 0.70% m/m increase in January”, wrote TD Securities analyst Annette Beacher, pointing also March Consumer confidence at 71.0 and New Home sales at 410K in February.