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Asian markets shaken american economic:
Asian stock markets followed the Wall Street downward trend on Monday. In addition, while fears concerning the US economy came back in force. Consequently, This nervousness prompted investors to almost anticipate a drop in rates in September, weakening the dollar.
If a certain resilience of the term contracts on American actions. Therefore, the continuation of the decline in oil prices have made it possible to limit losses, the dark message of the July employment report is difficult to ignore.
Not only did the revisions show that job creations were 290. For example, 000 in investors’ expectations, but the average over three months fell to only 35,000, compared to 231,000 at the start of the year.
“The report brings the growth of the employment of the major employment data indicators closer to employment. Similarly, wider statistics on growth, which have both slowed asian markets shaken american economic down in recent months,” notes Goldman Sachs analysts.
“Taken as a whole. However, economic data confirm our opinion that the American economy grows at a lower rate than its potential. However, »»
President Donald Trump’s reaction also did not inspire confidence. his dismissal from the head of the work statistics office threatening to undermine the credibility of American economic data.
In addition. the announcement that Trump will be able to appoint a new governor to the federal reserve this year has rekindled concerns about a possible politicization of monetary policy.
Analysts believe that the named person will be loyal to Trump. although the president has contacted that the president of the Fed, Jerome Powell, should probably go after his mandate.
“This opens the way to wider support at the Fed Council for faster rate drops. ” explains Ray Attrill, FX research manager at NAB. “The credibility of the Fed. as asian markets shaken american economic well as the reliability of the statistics on which it bases its decisions, are now under the spotlight. »»
The markets quickly integrated a much more marked monetary softening perspective. the probability of a drop in rates in September climbing 90 % against 40 % before the publication of employment figures.
The term contracts continued their rise on Monday. anticipating 65 downside points by the end of the year, against 33 points before the data publication.
The markets have in a way already taken the lead on the Fed. with the yields of treasury bills to two years down 4.661 %. They had dropped by almost 25 points on Friday, the highest drop in a day since last August.
The weakened dollar
The lower borrowing costs prospect has offered a certain support for actions: the term contracts on the. S&P 500 increased by 0.1 % and those on the NASDAQ by asian markets shaken american economic 0.2 %.
Asian markets, however, remained in the catch -up phase after Friday drop: Nikkei fell by 2.1 %and South Korea by 0.2 %.
The MSCI index of Asia-Pacific actions outside Japan was an exception, progressing by 0.3 %.
Wall Street also relied on a solid results season: approximately two -thirds of S&P 500 companies published their results. 63 % exceeded forecasts. Profits growth is estimated at 9.8 %, compared to 5.8 % in early July.
Among the companies that will publish their results this week are Disney, McDonald’s, Caterpillar and several large pharmaceutical groups.
The disappointing American employment figures have brought a blow to the exceptional status of the dollar. ending a promising rebound in the currency.
The dollar sold 0.1 % to 147.24 yen, after dropping 2.3 % on Friday, while the euro established $ 1,1585, after a jump of 1.5 % at the end of asian markets shaken american economic the week.
The dollar index remained stable at 98.659, well behind the 100,250 summit reached the previous week.
The Sterling book remained more measured at $ 1. 3,287, while the markets anticipate 87 % a drop in rate of a quarter of the Bank of England at its meeting on Thursday.
The BOE board of directors should remain divided on relaxation. while the markets are still counting on two additional drops by mid-year next.
In the raw materials markets, gold remained stable at $ 3,361 per ounce, after winning more than 2 % on Friday.
The oil prices continued withdraw. OPEC+ having agreed with a new significant increase in production in September, thus completely canceling the reductions of 2.2 million barrels per day decided last year.
Brent lost 0.6 % at $ 69.24 per barrel, while American crude also fell 0.6 % to $ 66.93 per barrel.
Asian markets shaken american asian markets shaken american economic economic
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