Spreadex Market Update

Asian stocks fall for a second day



Asian stocks fell for a second day after weaker growth in US payrolls and manufacturing added to a potential slowdown in the world’s largest economy. A statement from the US Federal Reserve last night mentioned they will continue to buy $85 billion in bonds each month to keep interest rates low and spur growth. In a much anticipated speech, they also highlighted they would be prepared to step up purchases if needed to protect the economy. 

European futures are indicating a lower open with concerns the health of the global economy is deteriorating after a string of negative data. The European Central Bank press conference will take place today with many expected a rate cut by 25 basis points to a record low of 0.5 percent. Many feel a rate cut was largely priced in as European shares climbed nearly 4 percent last week.

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