(07/01/2007 7:30GMT) What's done is done, and the likelihood of the US heading to a recession is not off the table yet, and is still in the red with almost a 50% chance which was merely the reflection to the sluggish jobs growth in December as the unemployment rates shot high.

Equity markets in Asia has opened lower this morning on concerns of the American outlook while majors shed ground against the dollar while today lacks scheduled releases from the US and the entire week from there is rather a light load.

The European currency started the day declining against the US dollar as the spotlight today is on the 13 nations with inflation, employment, and sentiment readings are awaited to show slight incline and stability which will remain vague until the ECB takes its votes on interest rates later this week; expectations are for steady rates yet Trichet's rhetoric is what