The Euro continues to drop as the Dollar and Yen keep rising against it. Many traders are recommending that the Euro should not be bought any time soon. The Euro dropped 0.1% to $1.2294 and the Yen to 96.59. Chinese trade data showed that the economy on a global level is slowing down and therefore stocks are falling and commodities are declining as well. China's inflation rate is falling, food prices are rising, and this means that China's central bank is trying to push for more economy stimulation. Exporters in China are hit by the weak demand in Europe, adding to the decrease in economic growth. The AUD reached $1.0613, although strongest number in months, it isn't doing well for the economy at all.
In Asian stocks, the Asia Pacific Index decreased 0.6% however Asian currencies continue to rise against the Dollar. Due to the Asian currencies rising against the Dollar brings the European Central Bank to higher hopes for some monetary easing.