IBT Staff Reporter

Dear traders, is EURUSD „damped??? I do not believe. If I watch the EURUSD on weekly basis I am of the opinion that there is still some potential for going more southly.

Switzerland's delivery of UBS client data to U.S. tax officials has been delayed after the Swiss lower house rejected the Swiss-U.S. deal to solve a tax row, triggering a new parliamentary debate.

Stock index futures pared early gains on Tuesday, pointing to a mixed open as lingering fears over Europe's debt crisis hit the region's stocks and eclipsed soothing comments from Fed Chairman Ben Bernanke.

Stock index futures pointed to a higher open on Wall Street on Tuesday following the previous session's steep losses, with futures for the S&P 500 up 0.8 percent, Dow Jones futures up 0.8 percent and Nasdaq 100 futures up 1.1 percent at 0733 GMT.

Japanese bank lending marked its biggest annual fall in nearly five years in May, falling 2 percent as companies remained wary of boosting capital spending even as the economy recovers and the central bank keeps monetary policy loose.

Gold eased in Asian trade Tuesday after overnight gains near two percent on concerns over falling stocks, volatile currencies amid Euro zone debt worries. Gold for immediate delivery was seen trading at $1237.24 an ounce at 11.00 a.m Singapore time while U S gold futures for August delivery was at $1,239.6 ounce at the same time.

Financial markets stuck to their recent script on Tuesday, following a day of volatility with modest equities gains and a small lift for the euro.

Vietnam's banking system witnessed drastic dips in gold deposits during April and May. According to Vietnam Banking Association, over the last two months, the volume of gold on deposit in banks decreased by 15 percent, or 16,000-20,000 taels.

iPhone maker Foxconn International Holdings said it will seek higher prices from its clients to help offset wage hikes at a plant in southern China that has been hit by a series of suicides.

Xe Services, the U.S. security firm formerly known as Blackwater which has faced criticism for its work in Iraq and Afghanistan, is pursuing a sale of the company, the Associated Press said.

The euro bounced from a four-year low and Asian stocks edged up on Tuesday as traders paused a selloff of riskier assets ahead of Chinese economic data and a European Central Bank meeting later in the week.

Employers in most economies are more likely to add workers than three months ago, including those in the United States, but big gains are limited to booming emerging economies like Brazil, India and China, according to a quarterly survey by Manpower Inc .

European Union Food Facility fund received a boost with the EU donating 13.2 million to its funding to enhance agricultural production in developing countries worst hit by high food prices. This brings the total amount of the fund channeled through FAO to an unprecedented Euro 228 million.

Global oil prices rose marginally in Asian trade Tuesday mainly on euro recovery that boosted investor demand. Light sweet crude for July delivery was seen trading at $ 71.59 a barrel at 11.30 a.m Singapore time while Brent crude was at $72.18 a barrel at the same time in London.

Foxconn International confirmed on Tuesday another salary rise for staff on its Shenzhen production lines but said it was not clear how the adjustment would impact its 2010 operating results.

Now is the right time for China to reform its exchange rate regime, a Chinese government economist said in comments published on Tuesday. Fan Jianjun, a financial researcher with the Development Research Centre, a think-tank under the State Council, or cabinet, told the China Economic Times that the central bank should halt its currency intervention and let market forces decide the yuan's rate.

Federal Reserve Chairman Ben Bernanke said on Monday a regulatory reform bill that Congress is finalizing would likely address the problem of financial firms being too big to fail.

Federal Reserve Chairman Ben Bernanke said on Monday he was convinced Europe was committed to addressing its debt troubles to keep the European Union together.

Countries with big deficits must offer clear plans on how they will balance their budgets to maintain investor confidence and avoid problems seen in Europe, top economic policymakers said on Monday.

Apple Inc unveiled a new iPhone on Monday that goes on sale in scores of countries this year, preparing its fastest-ever global roll-out to try and stay a step ahead of rivals like Google Inc in a red-hot smartphone market.

Marsh & McLennan Cos Inc agreed to sell investigations unit Kroll to a firm led by former Marsh CEO Michael Cherkasky for $1.13 billion, less than the amount the insurance broker paid for it six years ago.

The AUD has opened at USD0.8100 after a tumultuous few days in the markets driven by fears (not concerns) about the European debt crisis spreading to more countries and slowing the recovery in the global economy.

Finance ministers from the debt-stricken euro zone sought to restore financial markets' confidence on Monday by agreeing how to deploy a vast anti-contagion program if needed by struggling members.

Stocks fell on Monday, taking the S&P 500 to its lowest close in seven months, as industrials and technology shares fell and investors stayed on their heels after last week's payrolls figure discouraged buyers.

The Australian Dollar opens lower against the greenback today at 0.8100. Support at US82 cents gave way yesterday very early in the local session as equity markets lost almost 3 per cent and the 16-nation Euro currency slid to new multi-year lows.

Walgreen Co said it will not be a provider for any new or renewed drug plans handled by CVS Caremark Corp's pharmacy benefits manager, which it said favors CVS pharmacies.

Negotiators from the Senate and House will begin meeting this week to craft a final Wall Street reform bill, with banks facing changes that threaten their profits, if not their business models.

Countries with big deficits must offer clear plans on how they will balance their budgets to maintain investor confidence and avoid problems seen in Europe, top economic policymakers said on Monday.

Goldman Sachs Group's U.S. government ties suffered a fresh blow on Monday, as a commission probing the financial crisis subpoenaed the bank, claiming the firm had flooded the panel with 2.5 billion pages of records.