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12:30 USA NY Fed Empire State manufacturing index (August) -7.7 -0.2 -3.8
13:00 USA TICS net flows (June), bln -29.5 - -48.8 (-67.5)
13:00 USA TICS net long-term flows (June), bln 3.7 28.0 24.2 (23.6)
The euro rose for a third day Monday on speculation a meeting tomorrow between French President Nicolas Sarkozy and German Chancellor Angela Merkel in Paris may result in action to contain the region’s debt crisis.
The Swiss franc tumbled against the euro, headed for its biggest three-day decline since the European currency’s 1999 debut on speculation Switzerland will take further action to counter recent gains.
The franc slid for a fourth day versus the dollar after the SonntagsZeitung newspaper said the Swiss government and central bank are in “intense” talks over setting a target for their currency.
Manufacturing in the New York region shrank for a third month in August (to -7.7 versus the median of 0).
In June, global demand for U.S. stocks, bonds and other financial assets weakened as the White House and Congress wrangled over raising the debt limit, government figures show. Net buying of long-term equities, notes and bonds totaled $3.7 billion, compared with net buying of $24.2 billion in May, according to Treasury Department data said.
EUR/USD rose to $1.4475 before set stable within the $1.4426/54 range.
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