Asian markets have been mixed since Moody’s downgraded China. In the focus of attention the OPEC meeting and FOMC minutes.
Most Asian markets have shown a mixed tone in Wednesday’s session following Moody’s downgrade of China. It goes down from Aa3 to A1. Investors are still waiting for the OPEC meeting and the publication of the minutes of the last FOMC meeting.
Moody’s Investment Service changed China’s outlook from negative to stable, but lowered its rating. The rebate comes after it has been proven that reforms in that country are taking place more slowly than expected.
The dollar has remained flat against the euro during the Asian session on Wednesday after rebounding from the lows of the last 12 months against most major currencies. There has also been a rise in Treasury yields. Investors are waiting on the minutes of the last meeting on monetary policy of the Federal Reserve.
Gold remained stable, after falling 0.7% in the previous session.
European markets are expected to open mixed Wednesday session.
Europe is loosening over the United States by a new factor that has come on the scene. ‘The strength of the euro’ Is not good for the major European exporters and is favorable to the US. It has been induced by the weakness of the dollar itself in the face of Trump’s problems with US justice.
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