Asian markets marginally lower this morning but have rallied off session lows, slowing global growth remains the ongoing concern . The Yen rose to a five week high versus the Euro ahead of the start of a 2 day meeting for the BOJ. In the US the DOW at one stage saw a 200 plus point reversal from early session highs as concerns over corporate profitability heighten, Alcoa fell 4% despite releasing better than expected results, and elsewhere Applied Materials reduced their FY sales and profit forecasts. Fitch affirmed their “AAA” rating for the US, with outlook remaining negative.

 

 

Posted by Philip Ball | Sales and Trading