Fundamental Analysis: More Disappointing US Data Dampens Recovery Hopes
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Disappointing US data
BinaryOptionStrategy.com – Yet again more soft data to come out of the US yesterday disappointed investors and the markets finally get a chance to react to the weak Chinese PMI data as the Chinese markets finally reopen.
The Fed concluded its two day policy meeting yesterday with a commitment to pursuing its monthly $85 billion asset buying programme. They also commented that they would be able to increase or decrease this amount as required.
Asian stock markets were broadly down during the late Asian session today in response to the China PMI. Investors move away from risky assets like the commodities. One day after the PMI data, China’s purchasing managers data also dropped to 50.4 from 50.5 in March. The USD pushed away from the target 100 JPY level putting pressure on the Japanese export market.
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