Euro In Freefall, Dollar Surge Accelerates; Futures Rebound On USDJPY Rise; Greece On The Ropes!

• Euro In Freefall, Dollar Surge Accelerates; Futures Rebound On USDJPY Rise; Greece On The Ropes! 
  by Tyler Durden, www.zerohedge.com
  While the dollar strength this morning, which has pushed it to a fresh 13 year high and has accelerated the EURUSD plunge to under 1.06 – a drop of over 300 pips since the start of the week – has been a recap of yesterday’s trading action, the main difference is that unlike yesterday, the USDJPY has managed to find a strong bid in the overnight session, pushing not only the Nikkei up by 0.4%, but also lifting US equity futures as the entire global marketplace is now merely a sandbox in which the central banks try to crush their currencies as fast as possible.
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  And it isn’t just Europe: overnight, China reported property sales in the first two months of 2015 which dropped by the most in three years amid a glut of housing supply, and real estate investment growth eased. Retail Sales (10.7%, Exp 11.66%) and Industrial Output also missed, rising 6.8% for the Jan/Feb period, below estimates of 7.7%. Even Goldman was shocked: “Activity data for the combined January-February period (the NBS releases these two months together given the difficulty of adjusting for Chinese New Year effects) was significantly weaker than expected across IP, FAI, and retail sales. For overall industrial production, this was the weakest year-over-year reading ever (China’s IP data starts from 1995) outside the global financial crisis.
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