Oct 2, 2011
As the euro licks its wounds after slumping in the third quarter, investors will be nervously looking across the Atlantic hoping the US does not bruise markets further when it releases key economic data.
After fears of a euro-zone collapse dragged global markets to fresh lows on Friday, investors will be searching for respite in US jobs figures, manufacturing data and the first set of third-quarter earnings numbers, which are all due this week from the world's biggest economy.
The US Institute for Supply Management is to announce manufacturing figures tomorrow, and the US government's report on September employment is due on Friday.
Back in Europe, fears continue unabated that Greece will default on its debts and that contagion will spread. The euro finished down 7.7 per cent at $1.33 on Friday, from $1.45 on June 30.
Italy's stock exchange suffered the worst three months of any EU exchange, losing 27 per cent of its value in the quarter, while the French and German bourses lost 24 per cent in the period.
The FTSE 100 finished down 14 per cent and the Dow Jones Industrial Average closed the quarter down 12 per cent.
The National has spent the past five days travelling through the debt-laden euro zone for a close-up view of the picture, which has become increasingly ugly as austerity measures affect low-income earners in Greece and Italy... read more>>
