Spreadex Market Update
Asian stocks mimicked the retreat of US stocks
Asian stocks mimicked the retreat of US stocks throughout the night, falling off one-month highs however on the whole ended relatively mixed with Japanese shares falling lower and the Hang Seng ending up slightly. Sony Corp reported their earnings throughout the night, dropping 6.8% as they expect to report its sixth loss in seven years.
The Japanese Yen surged against the US Dollar throughout the Asia trading session as stronger than expected Japanese Prelim GDP came in at 1.5%.
Heading into the European session, the FTSE 100 is set to open slightly weaker, down 7 points. On the economic data front, German Prelim GDP kick-started the day which came in better than expected at 0.8%. Leading into the afternoon, US Core CPI and Unemployment claims are due at 13:30, shortly followed by the Philly Fed Manufacturing Index at 15:00
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