Still no respite for the beleaguered euro, EUR/USD down at 1.1925 from a North American close Friday up around 1.1965, having been as low as 1.1878. The market will have noted the article in The Telegraph entitled “Euro will be dead in five years.” Elsewhere Roubini has come out warning that the euro zone is facing a period of zero growth, if not recession. And Der Speigel reports that Germany’s high court mulling interim order against euro zone aid. Oh-eh.
Asian stocks took it on the chin, following their Wall St counterparts in posting appreciable losses.
Euro zone data due today:
08;30 GMT: Euro zone sentix investor confidence for June expected -7.0% from previous -6.4%
10:00 GMT: German factory orders for April expected -0.4% m/m