The euro fell for a second day and Spanish bonds declined before central bank policy makers meet tomorrow to discuss measures to stem the region’s debt crisis. Asian shares and copper dropped after data showed Australia’s economy grew less than analysts estimated. The euro weakened 0.3 percent to $1.2526 as of 8:05 a.m. in London. The Stoxx Europe 600 Index was little changed, while the MSCI Asia Pacific Index slumped 1.2 percent. Standard & Poor’s 500 Index futures dropped 0.4 percent. Spanish 10-year yields rose three basis points to 6.6 percent. Australia’s dollar touched a six-week low. Copper declined 0.4 percent. The European Central Bank’s Governing Council will decide tomorrow on a bond-buying proposal that President Mario Draghi says is necessary to ensure the euro’s survival. Data today is forecast to show retail sales declined and services contracted in the euro area. Australia’s economy expanded 0.6 percent in the second quarter from the previous three-month period, compared with the 0.7 percent gain expected by economists in a Bloomberg News survey. “The global backdrop remains very challenging,� said Sue Trinh, a senior currency strategist in Hong Kong at Royal Bank of Canada. “Expectations for the ECB to deliver details on the bond-intervention program specific enough to satisfy the market are likely to be disappointed.� The euro dropped 0.3 percent to 98.19 yen. The Dollar Index, which IntercontinentalExchange Inc. uses to track the greenback against those of six U.S. trading partners, added 0.3 percent to 81.534. Iron Ore Commodity producers led losses on MSCI’s Asian gauge. Yanzhou Coal Mining Co. (1171) sank 5.6 percent in Hong Kong, where the Hang Seng China Enterprises Index (HSCEI) slumped 1.8 percent to an 11- month low. Lenovo Group Ltd. (992), the world’s second-largest computer maker, fell 6.7 percent after NEC Corp. sold its stake in the company. Fortescue Metals Group Ltd. (FMG), Australia’s third-largest iron-ore producer, plunged 8.5 percent in Sydney as prices of the steel-making material dropped to a three-year low and Royal Bank of Scotland Plc cut its rating on the stock. Nissan Motor Co. (7201), Japan’s second-largest automaker, dropped 1.9 percent as its vehicle sales in the U.S. missed estimates. Australia’s economic growth slowed from a revised 1.4 percent expansion in the previous quarter. The report covers a period before companies including BHP Billiton Ltd. scaled back mining projects in response to lower prices for iron ore, the nation’s most valuable commodity export. Chinese Growth The so-called Aussie touched $1.0190, the lowest since July 25. It has slumped against all of its 16 most-traded peers in the past month amid concern that Chinese growth is slowing. A quarter of Australia’s exports go to the world’s second-largest economy, and 60 percent of those shipments are iron ore. A final reading of an index based on a survey of purchasing managers in services industries in the euro area may confirm a drop to 47.5 in August from 47.9 a month earlier, according economists surveyed by Bloomberg. Markit Economics releases its figures today, and readings below the 50 level that indicate contraction. A separate survey predicted a European Union statistics report today will show retail sales fell 1.7 percent in July from a year earlier. Copper for delivery in three months dropped 0.3 percent to $7,615.5 a metric ton on the London Metal Exchange. Zinc slid 0.5 percent and tin dropped 1.2 percent. To contact the reporters on this story: Richard Frost in Hong Kong at rfrost4@bloomberg.net; Kristine Aquino in Singapore at kaquino1@bloomberg.net To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net

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