Asia looks south with 2 alarm bells: Japan is in technical recession with declines in 2 successive quarters and then the Chinese banks have NPAs which are worrying. Both are not new stories as both economies have been under investor observation for quite some time now.
Yen gave way and possibly the uncertainty in Europe saw a parking slot in the Aussie dollar.
Markets will be hesitant and worried investors will try to leave rather than flee. There is an orderly exit that may occur. Waiting for reassurances from policy makers.
Staying on the sidelines, may be a good trading tactic. Not a day to enter, Towards evening, when the US markets open , as the US economy is on a strong wicket, Wall Street may shrug off the data of the morning and may be Wall Street will stem the ebb.
Until then, it looks like number of sellers are more than buyers.
Yen gave way and possibly the uncertainty in Europe saw a parking slot in the Aussie dollar.
Markets will be hesitant and worried investors will try to leave rather than flee. There is an orderly exit that may occur. Waiting for reassurances from policy makers.
Staying on the sidelines, may be a good trading tactic. Not a day to enter, Towards evening, when the US markets open , as the US economy is on a strong wicket, Wall Street may shrug off the data of the morning and may be Wall Street will stem the ebb.
Until then, it looks like number of sellers are more than buyers.
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