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18/08/2023
Following the downward trajectory of the U.S. and European markets the day before, Asian equities are on a downward trajectory. Asian stocks, as measured by indices, have now fallen for six consecutive trading days in a row. This trend is shaping up to be the worst weekly performance in the past eight weeks. The drivers behind these market moves include ongoing concerns about the situation in China and worries that global interest rates may remain high for an extended period of time.
Market attention is currently focused on the upcoming August Consumer Price Index preview due out on August 31st, two weeks prior to the ECB's policy update. The only data release of note on the day involves Eurozone construction output. Although not usually considered a significant market influencer, it still attracts interest due to its sensitivity to changes in interest rates. Given the current trend in interest rates, this month's news is also likely not to be much better. May you have a pleasant Friday!
03/08/2023
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