Euro Ends Three-Day Winning Streak; Brazil, Canada Stocks Fall
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The euro ended a three-day winning streak and bonds rose after European Central Bank President Jean-Claude Trichet urged “austerity” measures to contain budget deficits. Oil and stocks in Brazil and Canada declined.
The euro weakened 0.2 percent to $1.2541 at 4:10 p.m. in New York. The yield on 10-year German bunds retreated 4 basis points to 2.54 percent. Crude lost 0.5 percent. Brazil’s Bovespa and Canada’s S&P/TSX Composite Index lost 0.9 percent. The Stoxx Europe 600 Index lost 0.3 percent. September futures on the Standard & Poor’s 500 Index fell 0.2 percent as U.S. exchanges were closed for a holiday. Copper increased for a second day.