Market Recap / Summary: FX – USD and JPY are stronger while Commodity currencies are generally lower but fresh selling is seen in EUR and CHF as we enter into the European session. Persistent worries over EZ slow-down, in particular in Germany, will weigh on EUR, which in turn drags down CHF.

Indices – Asian stocks flat to slightly up (except Nikkei -0.27%) / US stocks rose, lifted by bank stocks on the back of the latest batch of corporate earnings (DOW +0.59% / S&P +0.22% / NAS +0.15%)

Stocks – Deutsche Bank up +8% on reports that regulators would prefer a European tie-up rather than a merger with Commerzbank

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