As winter runs its course, the gloomy weather settling around the Eurozone seems to also be dwindling on financial markets. Weak economic data has this week emerged out of the Eurozone, the United Kingdom and China, hand in hand with new dovish measures undertaken by the Bank of Japan (BOJ) and the people's Bank of China (PBOC). The only positive data of the week so far was seen in Eurozone unemployment data yesterday, which came in lower than expectations of 10.4 per cent at 10.3 per cent. The figure was driven by German unemployment maintaining February lows of 6.2 per cent and continuing its decline from post-crisis highs of 2009. Conversely, German and Italian manufacturing PMI were flat for the month yesterday, adding to the weak CPI data for the Eurozone released on Monday. Given the bleak data, European markets rallied on further investor expectations that the ECB vote on March 10 will more than likely be in favor of further quantitative easing. Weak economic data was not limited to the Eurozone as the United Kingdom's PMI data came in unexpectedly below expectations of 52.9 at 50.8. The fall reflects domestic weakness in the UK in hand with lower export demand for its...
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