Currencies

• EUR/USD declined for a 2nd day before Greek PM Lucas Papademos share out details to the other 3 parties in regards to the details of measures to be held on nation in order to control and solve the debt issue.
  • The euro dropped 0.2% to $1.3107 as of 2:23 p.m. in Tokyo from the close in NY yesterday when it fell 0.2%. It was little changed at 100.56 yen. Japan's currency weakened 0.2 percent to 76.73 per USD.

• USD/JPY The dollar was little changed against the Japanese yen as traders consider whether Tokyo will intervene in currency markets
  • The dollar bought 76.58 Japanese Yens, versus 76.62 JPY that was traded on late Friday.

• AUD/USD gained against all of its 16 major counterparts after the Central Bank maintained the benchmark interest rate at 4.25%. Forecasts expect a cut of 4%.
  • The Australian dollar advanced 0.6 percent to $1.0792 and touched $1.0811, the strongest since Aug. 2.

Commodities

• Oil traded near a two-day low in NY on speculation that fuel demand may drop as Europe faces a serious debt issue and crisis influence the market on both US and Europe, as stockpiles increase in the U.S., the biggest crude consumer.
  • Crude for March delivery was at $96.82 a barrel, down 9 cents, in electronic trading on NYMEX at 4:30 p.m. Sydney time. The contract yesterday fell 93 cents to $96.91, the lowest settlement since Feb. 2. Prices are down 2 % this year.

• Gold started the week under pressure as another weekend passes with no resolution of the Greek crisis, sapping risk appetite and boosting the dollar. It seems like the big sticking point might not be the PSI deal after all, but troika concerns about the pace of Greek reforms. Just so there's no question about how Greek workers feel about additional austerity, the two largest unions — which account for nearly half of the entire workforce of Greece — have a strike planned for Tuesday (today).
  • Spot gold edged up 0.1 per cent to $1,721.13 an ounce by 0311 GMT, after touching a 1-1/2-week low of $1,711.29 in the previous session.

Equities

• Asian stocks dropped the most in eight weeks on concern economic growth is slowing, while the euro fell as Greece sought to secure rescue funds.
  • The MSCI Asia Pacific Index added 0.2 percent and Standard & Poor's 500 Index futures were little changed.

• US stocks hovered below the breakeven line throughout the trading day Monday, as investors anxiously awaited a Greek government decision on budget cuts that are key to securing a second bailout and avoiding default.
  • The S&P 500 advanced 0.4 percent to 1,344.33 yesterday.
  • The Dow Jones Industrial Average dropped 17 points, or 0.1 percent, to 12,845.13

• European (SXXP) European stock futures are facing losses on Tuesday, outcome of poor earnings by UBS and ArcelorMittal joined the fears over the outlook for company profits as the Euro Zone debt Crisis threatens to push the region back into recession.
  • The Stoxx 600 dropped 0.19 percent today, as worries grew about a problematic Greek debt default, with political leaders in Greece yet to decide on terms of a second bailout.

Sources: Bloomberg, FT