Economic data continue to disappoint with the European markets waking up to falling Asian session with the commodities entering a bear market due to a stronger US dollar and continued weak economic news. US home sales and manufacturing  missed estimates as well, which seem to echo the concerns that a slower growth will carry on into the following months.

This week has seen a lot thrown at the markets with hardly any relief from the new Greek elections and faltering economic news, markets today will have to deal with Moody downgrading 15 banks including UK banks such as Royal Bank of Scotland and Barclays. If we keep on seeing weaker economic date there is a chance that the Fed might reconsider its standing on further Quantitative Easing.

 

Posted by Khurram Ali | Account Executive