Wobbly economic data and fear around central bank action and inaction could see Asia Pacific markets giving up recent gains in trading today.
Wobbly economic data and fear around central bank action and inaction could see Asia Pacific markets giving up recent gains in trading today. Important local and regional data and an announcement around potential Japanese fiscal stimulus gives share investors plenty to worry about this week.
Friday’s nights weak US durable goods data belted commodity prices and could see the Australia 200 index on the back foot today. Further caution is expected from Australian investors ahead of Australian and Chinese PMI’s today, local building approvals tomorrow morning and a line ball interest rate call from the RBA tomorrow. The picture is further complicated by the stronger AUD potential sidelining international buyers.
An announcement tomorrow from PM Abe of Japan could be the circuit breaker, curtailing aggressive selling in trading today. After a tepid stimulus from the BoJ last week expectations are building that Japan may at last unleash significant measures from its fiscal quiver, supporting share markets across the region.