Aussie Touches Low, Euro Weakens With Asian Stocks
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| Image credit: ETF Trends |
Euro slipped 0.4% to $1.2988 at 12:34 p.m in Tokyo, while the MSCI Asia Pacific Excluding Japan Index as reported previously lost 0.8%, China's CSI 300 Index declined 0.8%, Futures on the FTSE 100 Index retreated 0.4% and contracts on the Standard & Poor's 500 Index slid 0.2%.
The S&P GSCI Index of commodities also fell 0.4%, Aussie dropped to $1.0150, the lowest since July 13. Because of Columbus Day the U.S Treasuries aren't trading, however, Japan's market are shut for a holiday.
In Luxembourg, European finance ministers will meet to discuss Spain's finances and closer bank cooperation, while Merkel will visit Greece for the first time since crisis erupted. The austerity imposed upon Greece on the other hand is now in grave danger of coming through to other parts of southern Europe, stating that the world trade has slowed through the course of the year.
Euro weakened against most of its 16 major counterparts, dropping 0.6 percent to 102.03 Yen, the Dollar Index, a gauge against six major peers, rose 0.2 percent.
Australia’s dollar fell 0.2 percent to $1.0163 amid prospects that the Reserve Bank will reduce its key rate next month following a cut last week.
Australian help-wanted notices dropped for a sixth straight month in September as project delays and cancellations eased demand for labor in mining states, a private report showed today. Data this week may show the country’s jobless rate climbed to 5.3 percent last month from 5.1 percent in August. - Money Talks
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