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The euro slid against the yen and the dollar after European Central Bank President Mario Draghi failed to offer sufficient measures to curb the region’s debt crisis.

The shared currency fell versus all of its 16 most-traded peers after Draghi said Germany’s Bundesbank has reservations about his plan to buy bonds, which remains to be fleshed out.

ECB officials are working on a plan to buy bonds in sufficient quantities to ease Europe’s fiscal turmoil, Draghi said. Details will be released in coming weeks, he told reporters at a news conference in Frankfurt.

The pound gained for the first time in three days versus the euro after the Bank of England kept its bond-buying program and interest rate unchanged. U.K. Monetary Policy Committee maintained its bond-buying program at 375 billion pounds ($582 billion) and left interest rates at a record-low 0.5 percent, in line with the median forecasts.

European stocks declined, erasing earlier gains, as European Central Bank President Mario Draghi’s comments disappointed investors seeking more definitive measures to stimulate the region’s economy.

Draghi signaled that the ECB will join forces with governments to buy sovereign bonds. Still, he didn’t give details on how such a program would work, saying that they will be fleshed out in coming weeks.

Bond yields that throw into question the future of the euro are “unacceptable” and “need to be addressed in a fundamental manner,” he also said at a press conference in Frankfurt today after the ECB kept the benchmark interest rate unchanged at 0.75 percent.

The Bank of England maintained its current bond-buying program today as policy makers wait to assess the impact of the latest stimulus and their new lending program to end the recession.

National benchmark indexes fell in 15 of the 18 western European markets today. The U.K.’s FTSE 100 Index slid 0.9 percent, France’s CAC 40 Index declined 2.7 percent and Germany’s DAX Index retreated 2.2 percent.

An index of banking shares was the worst-performing industry group on the Stoxx 600. Santander plunged 6.7 percent to 4.63 euros and Deutsche Bank slid 5.3 percent to 23.21 euros. Credit Agricole SA slumped 8 percent to 3.28 euros.

Veolia plunged 12 percent to 8.15 euros, the biggest drop in a year. First-half results were hurt by writedowns in Italy, the economic slowdown and a “contractual erosion” at Veolia’s water division in France, the Paris-based company said. Veolia plans to sell 5 billion euros of assets and reduce investment by 500 million euros this year and next.

Crude fell in New York after European Central Bank President Mario Draghi failed to give details of a plan designed to shore up the euro by curbing rising government borrowing costs in the region.

Futures tumbled as much as 2.2 percent after Draghi signaled that the ECB will join forces with governments to buy sovereign bonds in sufficient quantities to remove all doubts about the future of the euro. Draghi said last week he would do whatever it takes to protect the currency, stoking speculation he would outline plans following a central bank meeting today.

Oil for September delivery fell to $86.92 a barrel on the New York Mercantile Exchange. Prices have declined 11 percent this year.

Brent crude for September settlement rose 38 cents, or 0.4 percent, to $106.34 a barrel on the London-based ICE Futures Europe exchange.

Gold has committed a surge in prices, repeating the motion of the major currency pairs, after today's meeting at the ECB decided to leave interest rates at a record minimum of 0.75%, and the comments of the ECB.

At the outset, the head of the Central Bank said that the euro is surrounded by a high level of uncertainty, advising governments to prepare for activation EFSF / ESM in the bond market.

He also stressed that the Board of Governors may consider taking further non-standard measures and implementation of open market operations under the mandate.

However, Draghi did not mention the resumption of purchases of bonds, although the market had pinned hopes on it after the speech the head of the Central Bank last week when it announced its readiness to defend the euro by any means.

In addition, Draghi mentioned the issue of reducing rates, but the action is considered inappropriate in the current period.

The cost of the August gold futures on the COMEX today rose to 1615.0 dollars per ounce, then dropped to 1587.8 dollars per ounce and is now trading at around 1594.8 dollars per ounce.

EUR/USD $1.2150, $1.2200, $1.2220, $1.2250, $1.2260, $1.2300

USD/JPY Y77.50, Y78.10, Y78.45, Y78.50, Y79.00

GBP/USD $1.5600, $1.5610, $1.5650, $1.5680

EUR/GBP stg0.7795

EUR/CHF Chf1.2025

AUD/USD $1.0525, $1.0585

U.S. stock futures declined as the European Central Bank Mario Draghi failed to reassure investors on immediate efforts to bolster the economy.

Global Stocks:

Nikkei  8,653.18 +11.33 +0.13%
Hang Seng 19,690.2 -130.18 -0.66%
Shanghai Composite 2,111.18 -12.18 -0.57%
FTSE  5,663.62 -49.20 -0.86%
CAC  3,264.31 -57.25 -1.72%
DAX 6,634.87 -119.59 -1.77%
Crude oil $87.67 -1,39%
Gold $1697.30 -0.62%

• The Governing Council may consider further non-standard measures

• The ECB may hold direct open market operations, within its mandate

• Governments must be prepared to activate the EFSF / ESM in the bond market

• The government should continue fiscal consolidation

• Euro irreversible

• The risk premium on bonds of some countries is extremely high

• Further tension in the market - a risk factor for economic growth

• Increased uncertainty puts pressure on the mood, trust

• Inflation expectations remain restrained

• Inflation should continue to decline in 2012

• The basic rate of monetary growth remains subdued

• The Governing Council may consider further non-standard measures

• The ECB may hold direct open market operations, within its mandate

• Governments must be prepared to activate the EFSF / ESM in the bond market

• The government should continue fiscal consolidation

• Euro irreversible

• The risk premium on bonds of some countries is extremely high

• Further tension in the market - a risk factor for economic growth

• Increased uncertainty puts pressure on the mood, trust

• Economic growth in the euro area remains weak

• Inflation expectations remain restrained

• Inflation should continue to decline in 2012

• The basic rate of monetary growth remains subdued

Data

01:30 Australia Retail sales (MoM) June +0.5% +0.6% +1.0%

01:30 Australia Retail Sales Y/Y June +3.3% +4.1%

01:30 Australia Trade Balance June -0.29 -0.38 +0.01

07:15 Switzerland Retail Sales Y/Y June +6.2% +3.6% +3.7%

07:30 Switzerland Manufacturing PMI July 48.1 47.2 48.6

08:30 United Kingdom PMI Construction July 48.2 48.3 50.9

09:00 Eurozone Producer Price Index, MoM June -0.5% -0.3% -0.5%

09:00 Eurozone Producer Price Index (YoY) June +2.3% +1.9% +1.8%

11:00 United Kingdom BoE Interest Rate Decision - 0.50% 0.50% 0.50%

11:00 United Kingdom Asset Purchase Facility - 375 375 375

11:00 United Kingdom MPC Rate Statement -

11:45 Eurozone ECB Interest Rate Decision - 0.75% 0.75% 0.75%

EUR/USD
Offers $1.2390/400, $1.2375/80, $1.2350, $1.2310, $1.2300
Bids $1.2250/45, $1.2220/10, $1.2180

GBP/USD
Offers $1.5690/700, $1.5650, $1.5590/600
Bids $1.5480, $1.5455/50, $1.5395/90

AUD/USD
Offers $1.0635/40,
$1.0560, $1.0530/40
Bids $1.0450,
$1.0430, $1.0400, $1.0385/80

EUR/JPY
Offers Y97.00, Y96.80/85, Y96.70, Y96.50, Y96.40,
Bids Y95.85/80,
Y95.75/70, Y95.65/60, Y95.50, Y95.20, Y95.00

USD/JPY
Offers Y79.50, Y79.00, Y78.80, Y78.65/70
Bids Y78.10, Y78.00

Today we have published data on the index of producer prices in the eurozone. The actual value was slightly lower than forecast.

However, at this point the focus of the market is today's ECB meeting. Investors are hoping for poderzhku debt markets by buying troubled eurozone bonds

Last week, the head of the European Central Bank, Mario Draghi has promised that the central bank will do "everything necessary" within its mandate to protect the euro.

Statement M.Dragi was seen as a signal to markets that the ECB intends to support the debt markets by buying bonds of troubled eurozone countries. Quotes of debt in Spain and Italy have increased dramatically in the M.Dragi statements, which led to a decrease in yield. Growth responded to the words of the ECB and other financial markets.

At the moment:

FTSE 100 5,729.60 +16.78 +0.29%

DAX 6,774.01 +19.55 +0.29%

CAC 3,327.57 +6.01 +0.18%

EUR/USD $1.2300, $1.2350, $1.2400(large); Exotic $1.2000(OT)

USD/JPY Y78.40, Y78.50, Y79.00

GBP/USD $1.5660, $1.5680, $1.5850

EUR/GBP stg0.7800

GBP/JPY Y122.50

EUR/Sek Sek8.40

Asian stocks outside Japan fell, with the regional benchmark index set to drop for a second day, as investors await a policy announcement by the European Central Bank after the Federal Reserve refrained from adding stimulus to the U.S. economy. The European Central Bank is scheduled to make a policy announcement today, with President Mario Draghi pledging policy makers will do whatever is needed to preserve the euro. Most investors in Asia, the Americas and Europe expect the ECB will engage in sovereign-bond purchases in support of Spain and Italy, Goldman Sachs Group Inc. said in a note yesterday, citing a survey of 410 people.

Nikkei 225 8,653.18 +11.33 +0.13%

S&P/ASX 200 4,269.5 +6.74 +0.16%

Shanghai Composite 2,111.41 -11.95 -0.56%

Samsung Electronics Co., which gets 39 percent of its sales in Europe and America, lost 2 percent.

Toyota Motor Corp., Asia’s biggest carmaker by market value, rose 2.5 percent in Tokyo after its U.S. sales gained 26 percent in July.

Fiber maker Teijin Ltd. slumped 8.8 percent in Tokyo after cutting its operating profit forecast.

Tesoro sold E3.13bln vs E2.0bln-E3.0bln

E1.06bln of 4.75% July 2014 Obligacion, cover 2.996

E1.024bln of 4.25% Oct 2016 Bono, cover 2.73 vs 2.56 prev

E1.046bln of 5.85% Jan 2022 Obligacion, cover 2.40 vs 3.18 prev

01:30 Australia Retail sales (MoM) June +0.5% +0.6% +1.0%

01:30 Australia Retail Sales Y/Y June +3.3% +4.1%

01:30 Australia Trade Balance June -0.29 -0.38 +0.01

Dollar consolidates as investors expect interest rate decisions from the Federal Reserve and European Central Bank on the background of evidence that the economy around the world slows down. The data on the U.S. labor market proved to be very optimistic - according to the report, ADP, employment increased by 163 thousand in July, against the average forecast of 120 thousand other macro data also remained "in the shadows." For example, construction costs have shown an increase in line with expectations at 0.4% in June, and in the industry, according to a report ISM, was marked by the decline in July, the second consecutive month.

The euro rose against the yen after the Bundesbank President Jens Weidmann said the ECB should not cross the boundaries of the mandate. Recall that European politicians will announce its decision on interest rates tomorrow. Earlier, President Mario Draghi has promised to do everything possible to protect the single currency.

The pound fell after the published data on the UK showed that the index of manufacturing activity fell in July to their lowest values ​​in the last three years. The index in July was at 45.4, up from 48.6 in June.

China’s manufacturing expanded at the slowest pace in eight months and South Korea’s exports fell. Japanese shares led declines on disappointing earnings reports.

Nikkei 225 8,641.85 -53.21 -0.61%

S&P/ASX 200 4,262.8 -6.35 -0.15%

Shanghai Composite 2,121.89 +18.25 +0.87%

Fanuc Corp. a maker of robotic controls for Chinese factories, fell 2.5 percent in Tokyo.

Samsung Electronics Co., South Korea’s biggest exporter of consumer electronics, slid 0.7 percent. Sumitomo Heavy Industries Ltd. and Komatsu Ltd. led industrial shares lower after cutting earnings forecasts.

Intrepid Mines Ltd., an Australian company exploring for gold in Indonesia, surged 32 percent after saying a new shareholder would help safeguard its project in the Southeast Asian country.

Change % Change Last

Gold 1,603 -11 -0.71%

Oil 88.88 +0.82 +0.93%

Change % Change Last

Nikkei 225 8,641.85 -53.21 -0.61%

S&P/ASX 200 4,262.8 -6.35 -0.15%

Shanghai Composite 2,121.89 +18.25 +0.87%

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,2229 -0,56%

GBP/USD $1,5537 -0,87%

USD/CHF Chf0,9825 +0,59%

USD/JPY Y78,42 +0,40%

EUR/JPY Y95,89 -0,19%

GBP/JPY Y121,83 -0,47%

AUD/USD $1,0459 -0,31%

NZD/USD $0,8081 -0,05%

USD/CAD C$1,0050 +0,16%

01:30 Australia Retail sales (MoM) June +0.5% +0.6% +1.0%

01:30 Australia Retail Sales Y/Y June +3.3%

01:30 Australia Trade Balance June -0.29 -0.38 +0.01

07:00 United Kingdom Halifax house price index July +1.0%

07:00 United Kingdom Halifax house price index 3m Y/Y July -0.5%

07:15 Switzerland Retail Sales Y/Y June +6.2% +3.6%

07:30 Switzerland Manufacturing PMI July 48.1 47.2

08:30 United Kingdom PMI Construction July 48.2 48.3

09:00 Eurozone Producer Price Index, MoM June -0.5% -0.3%

09:00 Eurozone Producer Price Index (YoY) June +2.3% +1.9%

11:00 United Kingdom BoE Interest Rate Decision - 0.50% 0.50%

11:00 United Kingdom Asset Purchase Facility - 375 375

11:00 United Kingdom MPC Rate Statement -

11:45 Eurozone ECB Interest Rate Decision - 0.75% 0.75%

12:30 Eurozone ECB Press Conference -

12:30 U.S. Initial Jobless Claims - 353 375

14:00 U.S. Factory Orders June +0.7% +0.4%

23:30 Australia AIG Services Index July 48.8