Stocks Slide on Slowdown Fears

 

Asian stocks extended decline to monthly low after a fall in the US equities. Disappointing US data, US imposing fresh tariffs on $7.5 billion worth of European Union’s (EU) goods, and the US-China headlines increased concerns about a global slowdown. Those fears increased bets that the Federal Reserve will cut rates this month.

With this, the US dollar remains under pressure as weak data reflects a recession in the world’s largest economy. The Euro failed to bounce despite the drop in the US yields since the upside is limited due to Trump’s fresh tariff imposition on the EU. The Pound has been cautiously trading amid mixed Brexit news. The EU stands ready to extend the Brexit without the United Kingdom’s (UK) Prime Minister (PM) Boris Johnson’s request.

Investors will now focus on a slew of Purchasing Managers’ Index (PMI) numbers form the EU, the UK and the US ahead of Friday’s key employment reports from the US. Further to note, traders will also seek clues of a slowdown in today’s Fed speakers.

NOTE: Traders are advised to be cautious and be updated on the major economic news causing high volatility to achieve better trading results.


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. The Bullfx (thebullfx), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Post categories

 

Symbol Bid Ask Spread
EURUSD 1.11195 1.11212 1.7
GBPUSD 1.29361 1.29389 2.8
USDCAD 1.31619 1.31638 1.9
USDJPY 108.782 108.800 1.8
USDCHF 0.99289 0.99310 2.1
AUDUSD 0.68255 0.68274 1.9
NZDUSD 0.63297 0.63320 2.3
EURGBP 0.85945 0.85966 2.1
EURCHF 1.10417 1.10437 2
EURJPY 120.974 120.991 1.7
AUDJPY 74.256 74.276 2
GBPJPY 140.737 140.767 3
USDSGD 1.36451 1.36472 2.1
XAUUSD 1485.48 1485.75 27
XAGUSD 17.415 17.442 2.7

The above live prices are provided solely for informational purposes, not for trading purposes, and may be delayed.

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