Market Vibrations: News and Commentary from the Europe Desk (0530 GMT) 

0530 GMT: A very quiet Asian session so far with EURUSD staying within a 30-point range into the European open. Haven't been able to guage risk optimism today yet but last week closed pretty strongly for risk and overnight we saw some improvement in New Zealand consumer confidence. The IMF has had words to say about the Chinese situation with Zhu Min trying to dispel some fears by saying China will see a soft landing. Meanwhile, RBA RBA Gov Stephens has noted that the recent performance of the Australian economy is "not too bad." Stephens pointed out that other data aside from the recent GDP report are still pointing to a growth trend.