Stocks May Rise EUR Higher

ASIA OUTLOOK : Regional stock markets may rise amid mixed cues Monday despite a modestly lower close on Wall Street Friday after reports of financing difficulties in Spain fueled worries of an expanding euro-zone crisis, outweighing a better than expected reading on U.S. consumer confidence. Despite worries over the situation in Spain a report in state-run Shanghai Securities News over the weekend that China's foreign trade in the first half of May showed signs of improvement and reports of political progress in Greece could lift the market mood. In FX markets the EUR is higher against the USD in early Asian trading after polls over the weekend showed that Greece's conservatives have swung into first place ahead of next month's elections. The EUR/USD is at 1.2579 from 1.2516 late Friday in New York, the EUR/JPY is at 100.08 from 99.75, and the USD/JPY is at 79.56 from 79.68. On the data slate there's the BOJ's April policy meeting minutes at 2350 GMT, Thailand's April industrial production at 0700 GMT and Taiwan's April business indicators at 0800 GMT. Markets in South Korea and the U.S. are shut for holidays.