UWC Currency - page 13
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02.09.2011
Pessimism back with
Asian markets in red
Pessimism ruled in Asia Friday morning with falling markets in nervous waiting for unemployment figures
coming out of the US later during the day. The Japanese Nikkei was down 1,4 % followed by 1,3 % both in
Shanghai and Hongkong. South Korean Kospei is falling 1,3 %. In US both Dow (- 1,03 %) and Nasdaq (-1,30 %)
were down.
Sluggish economic growth, sovereign debt worries in Europe and global fears for stagflation in the form of a
combination of weak growth and higher inflation, seemed to be back on the top of the agenda superseding the
more positive sentiments which have given markets a lift during the last days. US Unemployment numbers
which is one the best indicators of the health of the economy is expected to stay at 9,1 %.
Gold and old prices are steady while EURO continues to loose against the Dollar at 1.4243. Expect big
turbulence in late afternoon trading both in Gold and currencies if the unemployment figures come in
lower than expected.