As the week started on Monday, shares in Europe and the euro currency were lower due to concerns about the Greek nation. Investors and traders are not too optimistic regarding Greece coming up with the required political commitments that will help averting a debt default. Last week, the highlight remained the jobs market report of the United States which was reported by the Labor Department of the country. Since more jobs were added in the economy which also sent the unemployment rate of the largest economy in the world down, investors were optimistic and so were traders, which led for stocks to rise.
However, soon after the revelation of the jobs market report, Greece worries began popping up and renewed worries about the indebted nation has sent oil prices and stocks lower. Due to increased and renewed worries about Greece, the European FTSEurofirst 300 index was sent down, as it dropped by 0.2 percent when it opened. On the other hand, the single currency also lost 0.5 percent during early European trade as it stood at $1.3082, and fell by $1.3075 during Asian trade.
Moreover, since last week, oil prices also started on a low point, as oil traders were also concerned about the problems encircling the Greek nation. Renewed problems and concerns about the nation have overshadowed the positivity coming from the United States. Amongst other currencies, the dollar was a little higher against a basket of major currencies, getting valued at $79.21
Until and unless leaders of the indebted country can make the efforts which it is required to make on the political front, traders and investors will remain pessimistic about the condition of the European zone as a whole, which will greatly affect world financial markets as well as oil prices throughout the region and all over the world.
