Markets in a Flash
• The USD is looking weak this morning as China see’s problems with US recovery.
• The JPY has started to look slightly stronger in the past few hours and is gaining against the USD and the EUR.
• US equity futures are lower today suggesting the selloff will continue when the markets open.
• Oil is trading just below the $86.00 mark while Gold is pushing higher to around $1225.00.
• Chinese markets were up overnight while Japanese markets fell as investors sold.
• European equity markets started the day positive but have turned negative as trading has continued.
News focus
China set to be world’s second largest economy
GDP data from Japan showed that their economy grew by an annualized rate of only 0.4% in the second quarter of this year. Economists had expected the data released to show a figure of 2.3%. In the second quarter of this year Chinas Gross Domestic Product was 3.8% high than Japans. As China continues to grow rapidly throughout this year it is expected that by the year end China will be official the second largest economy. The news that the Japanese economy has not grown at the rate it was expected too has sent bearish forces through the markets today. Equity markets are lower as investors think the world’s recovery is going to be hindered by a double dip.
Coming up Today
No important data releases today
No comments:
Post a Comment