Forex: Monday's review
The euro tumbled to a seven-week low against the dollar and slid versus the yen as rising Italian bond yields stoked concern Europe’s sovereign-debt crisis in deepening.
The euro fell to a record low against the Swiss franc as Austria’s Finance Minister Maria Fekter said Italy will be discussed today at the monthly gathering of euro-area finance ministers.
Australia’s dollar weakened on speculation China will take further steps to cool growth, while Norway’s krone and Canada’s dollar declined as crude oil fell.
The dollar rose against all its major counterparts, excluding the franc and the yen as stocks and commodities slumped.
EUR/USD: on results of yesterday's session the pair decreased in $1.4040 area.
GBP/USD: on results of yesterday's session the pair decreased in $1.5900 area.
USD/JPY: on results of yesterday's session the pair decreased in Y80.30 area.
US data starts at 1145GMT with the weekly ICSC-Goldman Store Sales data, while at 1230GMT, US Treasury Secretary Tim Geithner opens a conference on Women in Finance in Washington. Also at 1230GMT, the international trade gap is expected to decrease to $42.7 billion in May. Import prices posted only a modest increase in the month, with imported petroleum prices actually down. The supply shortage of auto imports from Japan will likely appear in the data as well. Meanwhile, Boeing reported
28 deliveries to foreign buyers in May, up from 24 in April.