Exchange traded funds that invest in European stocks were set for a lower open in U.S. trading on Monday as investors didn’t get any positive developments on Greece’s debt crisis over the weekend.
Currency ETFs tracking the euro were also poised for a lower open. CurencyShares Euro Trust (NYSEArca: FXE) slipped 0.4% in trading before the bell.
The euro declined versus the dollar for the first time in three days Monday after European leaders couldn’t agree on releasing a loan payment to avoid a Greek debt default, Bloomberg reported.
Prime Minister George Papandreou faces a confidence vote this week as he tries to push through austerity measures in Greece.
SPDR EURO STOXX 50 ETF
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.