EU finance ministers have postponed the decision on emergency Greek aid, saying Athens has to first introduce hard austerity measures. Kick that can down the road one more time, why don’t ya.
Market as a result has hit the single currency, albeit not too hard so far. EUR/USD down at 1.4235 from a North American close Friday up around 1.4300, having been as low as 1.4216.
Euro zone data due today:
06:00 GMT: German producer prices for May expected +0.1% m/m, +6.3% y/y
08:00 GMT: Euro zone current account for April
08:00 GMT: Italian industrial orders for April expected -4.0% m/m, +22.0% y/y; industrial sales (ain’t got no forecasts for those)
09:00 GMT: Euro zone labour costs Q1 expected +1.9% y/y
