"Capital Economics said this afternoon that it is sticking with its forecast that the euro will slide to $1.10 by the end of this year, but feels there's a growing risk it could fall further, faster."
"Indeed, a research note just released by Citi estimates that the euro will fall to the brink of parity with the US dollar at $1.01."
Markit Flash Eurozone PMI® (source)
"Eurozone suffers worst downturn since mid-2009
- Flash Eurozone PMI Composite Output Index at 45.9 (46.7 in April). 35-month low.
- Flash Eurozone Services PMI Activity Index at 46.5 (46.9 in April). 7-month low.
- Flash Eurozone Manufacturing PMI at 45.0 (45.9 in April). 35-month low.
- Flash Eurozone Manufacturing PMI Output Index at 44.7 (46.1 in April). 35-month low."
|Source: Markit Economics.com Eurozone PMI|
|Source: Markit Economics Eurozone PMI|
Markit Flash Germany PMI® (source)
"German private sector returns to contraction. Manufacturing output falls at sharpest pace for nearly three years, offsetting resilient services growth.
- Flash Germany Composite Output Index at 49.6 (50.5 in April), 6-month low.
- Flash Germany Services Activity Index at 52.2 (52.2 in April), unchanged.
- Flash Germany Manufacturing PMI at 45.0 (46.2 in April), 35-month low.
- Flash Germany Manufacturing Output Index at 44.6 (47.3 in April), 35-month low."
|Source: Markit Economics Germany PMI|
ECB Official: On Greece, 'We Are Working on Plan A' (CNBC)
Rescue Elusive as ECB Resists Rajoy Bond-Buy Urge: Euro Credit (Bloomberg)
Eurozone governments ponder Greek exit contingency (Chicago Tribune/Reuters)
China 'should prepare' on euro: Experts (Chinadaily.cn)
Greek banks to get $23 billion from bailout fund (BloombergBusinessweek)
An Exit From Europe Would Be Our Own Greek Tragedy (Bloomberg)
Is Valencia Spain’s Own Little Greece? (Bloomberg)
Italy's Monti says Greece will probably keep euro (Reuters)
Could the 'Geuro' currency save Greece? (World News Australia)
Italy's Monti sees eurobonds 'not in too long' (Miami Herald)
Greek Exit Could Trigger a Run on European Banks (Bloomberg)