Australian and Korean markets are down less than 0.2% and HK is expected to open flat. It still seems that we are dealing with two different international dynamics; the developed economies of the US and Europe which will struggle to grow (and therefore equity markets which will rally but also fall back swiftly) and the emerging economies of Asia which are underpinned by growth and expanding domestic demand and are therefore less likely to follow bearish leads from overseas.
The FX market hasn’t really moved much since the NY close although pairs like EUR/JPY are about 40 pips lower on the session. Gold is $6 lower at $1186 and oil is unchanged around $76.50/bbl.
Time for a quick lunch break.
