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Forex Top Story Portugal Plans Deeper Spending Cuts To Keep Bailout On Track Portuguese Prime Minister Pedro Passos Coelho said on Sunday that the government will have to reduce spending on social security, health and education to meet its bailout conditions after the constitutional court ruled against some of the austerity measures announced in the budget. New spending reduction plans are crucial for the country to retain the access to its EUR 78 billion EU-IMF aid. European Economics Preview: Germany Industrial Output Data Due Industrial production from Germany is the major data due on Monday, headlining a light day for the European economic news. Japan Has Y637.4 Billion Current Account Surplus Japan posted a current account surplus of 637.4 billion yen in February, the Ministry of F

Forex Top Story U.K. Manufacturing Downturn Continues On Lackluster Demand The continuing downturn in the U.K. manufacturing sector have reignited fears of a triple-dip recession amid lackluster demand from both domestic and foreign markets. Further, mortgage approvals declined again in February, reflecting no credible support from the Funding for Lending Scheme to the housing market. Eurozone Unemployment Rate Hits Record High Unemployment in the euro area held steady at a record high in February, raising concerns that the ongoing recession is set to be a prolonged one as the region's debt crisis continues to weigh on economic activity, latest data showed Tuesday. European Economics Preview: Eurozone Unemployment Data Due Unemployment from Eurozone and inflation from Germany are due on Tuesday, headlining a busy day for the European economic news. RBA Keeps Cash Rate Unchanged As Global Risks Recede The Reserve Bank of Australia o