Spreadex Market Update
Slight optimism of a recovery
The Hang Seng is down 1.9%, 444 points, with slight optimism of a recovery as pro-democracy protesters seem to have calmed down. Asian shares stumbled after the shock of political unrest, with Asian markets hoping to claw back some of the losses made at the end of last week.
In addition the dollar hit a 4 – year high against the yen as the US revised growth expectations upwards to 4.6%, up 0.4%, along with expectations of the normalizing of Fed policy.
The dollar continues to climb against the euro to 1.2675, with the predictions of a new 2 year high in sights amidst expectations of the European Monetary Union taking action against inflation and low growth.
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