The Euro was trading markedly lower against the US dollar today, after worries about a Eurozone debt contagion could affect Italy and Spain. The Euro traded below $1.40 after comments from Christine Lagarde regarding the next stage in Greece’s restructure. The US greenback was up against a basket of other currencies, rising around 0.5%.

Premier Partners Group: All Asian markets took a hefty hit today on the back of fears over European debt contagion. Markets in Hong Kong, Australia, Taiwan and South Korea all fell around 2%, after news emerged that Italy and Spain could be struggling over its debt repayments. The dip followed a session of selling in US markets last night, with investors nervous about the situation in Europe.

Premier Partners Group: Data due out later this week is expected to show a slight reduction in the growth rate of China’s economy. Analysts believe that the European and US economies problems will have a negative impact on China’s growth, but added that China will still grow by about 9.5% this year.

Premier Partners Group: All Asian markets took a hit in trading on Monday, after a weak US jobs report late Friday, and a rise in inflation figures in China. Hong Kong, Tokyo and Australia’s indices were all sharply lower today, bring the recent winning run to an abrupt end. Australia’s index was the biggest loser, down 1.5%, after news emerged on its carbon tax policy.