Euro weakens on European officials' arguments

Note: This section contains information in English only.
Source: Bloomberg
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The 17 nation currency depreciated against US Dollar on Monday amid worries European leaders won't be able to find a consensus how to tackle Eurozone debt crisis. Germany continues to reject the idea of Euro bonds and direct capital injection into banking system. The Euro fell 0.3% versus greenback to USD 1.2403 in Asian trade. Currently the pair is trading at USD 1.2405.
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Mon, 04 Jun 2012 06:53:18 GMT

Companies prepare for the worst

As the majority of executives and analysts agree that the impact of Greek exit from Eurozone is difficult to predict, multinationals prepare for the worst to be well-equipped in case any contingency arises. Companies mostly are concerned about cash retrieval, should Greece reverts to the Drachmas, paralysis in international payments, breakup of the Euro and civil unrest in Greece. 

Mon, 04 Jun 2012 08:55:18 GMT

US Manufacturing activity contracted more than expected in May

The economic activity in production sector expanded in May though at slower pace than predicted. The PMI gauge for May equalled 53.5 a slight drop compared to April when the indicator reached 54.8. Analysts expected a smaller decline to around 54.0. US manufacturing posts expansion for the 35th straight month.

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