June 19 - The battered euro climbing back above $1.26 as investors hope the worsening European debt crisis will prompt central bank action.
But battered -- getting some rest Biden but perhaps not in the good way. Europe's deepening debt crisis on the resulting risk to global growth fueling hopes among some investors that central banks will be forced to step in. More bad news from Europe piling the pressure on policymakers Spain forced to pay the highest price since the birth of the Euro to sell short term debt. The step closer to becoming the first major heroes an economy we shot out of the debt markets. The sharpest drop in economic morale in powerhouse Germany since 1998. I'm grace his political drama still playing center stage of the rival parties can form a coalition. But first priority will be awesome for concessions on the painful austerity measures tight to the international -- Now is the Fed sets to twist again the FOMC wraps up its two day policy meeting on Wednesday. Despite the turmoil in Europe and the stuff during US economy most observers reckon another round of QB is unlikely this time around. The Fed could opt instead for an extension of Operation Twist selling short term treasury debt in favor of longer term bonds. Michael Hewson at CMC markets says don't expect any fireworks. Well the markets seem to think that the Federal Reserve will do some things. The FOMC meeting. Tomorrow and send -- recent economic indicators out to the US -- being gripe. -- time ought to be very very surprised. If they do anything this week having sit could well be wrong but so I think that the most they can probably extend Operation Twist. Anything will not think we really need to pay attention to the language. We'll -- -- highlights include UK unemployment the ILO jobless rate is -- remain unchanged at eight point 2% for April. We'll be talking to employment minister Chris grayling 915 GMT. We'll also get the minutes from the Bank of England's latest policy meeting. This week's folding UK inflation is thought to have raised the chances of the bank unleashing more stimulus measures for the economy. The QE program of government bond purchases currently stands at 325. Billion pounds. The world's second biggest fashion retailer H&M is set to post a 15% increase in second quarter earnings. Warmer weather in May help sales for the Stockholm listed chain offsetting a decline in Germany its biggest single market. And -- songs and think she continues -- European tour to Oxford university in England you'll receive an honorary doctorate in civil war. It's a bittersweet return to the city for the Burmese pro democracy leader who studied politics philosophy and economics at some -- college in the sixties. And show the family home that with her late husband Michael -- That's all from us for now but do join us each weekday morning from Reuters today a snapshot of the latest world news market headlines on social media box. I'm Nigel Stephenson this is brought to --