Spreadex Market Update
Disappointing inflation data from China
Disappointing inflation data from China led Asian stocks lower throughout the night as the number fell to 2.2% with investor’s now eagerly awaiting further data throughout the week to see if there is any stabilisation in the Chinese economy. The Dow Jones continued to fall throughout yesterday’s session with the negative sentiment spilling into Asia, also weighing in on the markets. The Hang Seng dropped sharply off the back of the data, falling 1.4%. The Nikkei was also trading in negative territory, down 0.3%.
European bourses are looking set to open relatively flat this morning after the markets sold off throughout the week. Looking at the economic diary, investors will be awaiting the FOMC Meeting Minutes which are released at 19:00 this evening to find any further clarity as to when an interest rate increase will be put into place.
Just after the FOMC minutes are released, ECB President Mario Draghi will speak at the Tommaso Padoa-Schioppa Memorial Lecture in London which is sure to causes volatility in markets as investors attempt to gain any further clarity on the monetary policy.
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