: 1.2261 - 1.2301.
0.9763 - 0.9795.
1.5661 - 1.5684.
95.94 - 96.38.
78.19 - 78.35. DowJones: 13'207.95 +0.32% NASDAQ: 3'020.86 +0.07% S & P 500: 1'405.87 +0.22% Nikkei: 8'889.36 -0.02% Shanghai: 2'157.10 -0.54% Gold: $ 1'619.70 Crude Oil: $ 113.79
Asian markets remain flat with most investors being cautious as worries of a global economic slowdown lingered. Fears that European largest economy may fall into recession in the second quarter also contribute to fuel investors concerns.
This morning, Japan Q2 GDP showed a 1.4% growth annualized against 2.3% expected, versus 5.5% on the last reading. The decline was attributed to a drop in consumer spending which started to falter as the euro-area debt crisis dragged down export demand.
The single currency continues to be under pressure as German Vice Chancellor Roesler was disappointed in Greece efforts to implement its austerity measures, pointing out Eurogroup chief Juncker comment that Greek exit "isn't our aim, but would be manageable". Statement from Merkel's CDU party that Germany has "reached the limit of its capacity", and the country may use its veto against further additional funds if Greece doesn't achieve its deficit target also weighed on the EUR.
Last week, the CAD, NOK and SEK were the main gainers against the EUR, up 1.5% with investors looking for alternative assets from the EZ ones. EUR manages to consolidate higher this morning, up 0.06% at the time of writing based on good bids. Most currencies are in positive territory, apart from the antipodean being affected by disappointment over the PBOC monetary policy.
Ahead of us today, we have a very light economic docket starting with French Current account for June. Followed by an Italian bond auction at 11:00 CET which should gauge investors sentiment on the euro zone debt crisis. Italy's 10-year yields remain below the 6% level at the moment. After a series of weak data from several countries, market participants will likely to focus on the US retail sales and consumer prices for July, along with the EZ Q2 GDP expected later on this week.