Nikkei Surges, Futures Higher As Cyprus Finance Minister Set To Hold Press Conference From Moscow

Cape Gkreko CyprusCape Gkreko, Cyprus

The story once again is the crisis in Cyprus, where banks are still closed, as local politicians must find a way to come up with billions of euros in order to properly capitalise the country’s banks, and allow them to maintain ECB liquidity.

In the meantime, Japan is back to its usual winning ways. It had another monster session, gaining 2%.

US futures are modestly higher, as Cyprus still hasn’t really been felt outside some peripheral European markets (Greece, Italy, etc.).

And the Cyprus Finance Minister is in Moscow, where he will be holding a press conference at 10 AM, according to Dow Jones.

Later on today? It’s FOMC day and Bernanke will be giving a press conference, where he’s likely to make the case for continued easing.

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