Technical Analysis – Asian Stocks Still Down
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Stocks
BinaryOptionStrategy.com – Asian stocks down in reaction to the Chinese PMI data of 2 days ago as the markets open for the first time this week in the region. During overnight session the Hong Kong Hang Seng slunk down 0.3 per cent while the Australian ASX/200 closed down 0.7 per cent and Japans Nikkei 225 finished lower for the 4th day running closing at 0.8 per cent down.
By the end of the US trade the DJIA closed 0.94 per cent lower, the S&P 500 dropped 0.93 per cent and the Nasdaq lost 0.89 per cent.
Forex
The USD was mixed in overnight trading against its major counterparts as investors move away from the riskier assets in search of safe haven assets. The EUR/USD crept down by 0.03 per cent to 1.3177 as investors wait out the outcome of the ECB meeting later today. The pair made a slight gain after the Fed comments about maintaining stimulus measures. The GBP/USD made a slight gain of 0.01 per cent in overnight session following the UK PMI incex which rose to just below the 50 mark that signifies an economy in expansion. Read full article