The eternal and tortuous deadlines of the sovereign debt crisis in Europe continue to weigh on the swings of the markets. Today, on the eve of the German Constitutional Court's ruling on the legality of the ESM (European Stability Mechanism), the Asian markets are in retreat: the regional index is falling by 0,6%. The first fall in four days, and the uncertainty that undermines it is not only in the German responses but also in the results of the negotiations on Greece: internal, between the coalition parties that must pass the cuts, and external, with the meetings between the Troika missions and the Greek government.
In the currency field, the euro is holding up, having lost only slightly from its recent highs. And the yen is still uncomfortably (for Japanese producers) strong, reaching 78.2 against the dollar. Oil also lost little (to 96,3) and gold is at 1732 $/ounce, after having touched 1740 in recent days.
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