Forex Updates- Asian Markets Are Trading Mixed
Wednesday, May 6, 2009
Asian market is trading mixed, follows the US equity market, which stopped slightly under the breakeven line.
On Tuesday Forex updates the US market closed in the red, as the worth paid for crude oil turned down, sending the commodity stocks lower, while the financials goes down on low volume ahead of the stress test outcomes. Investors came stressed ahead of the stress test outcome, which are expected to show that 10 out of the 19 banks tested will need further capital. The pressure was even more on the financials, since the Treasury is likely to announce on Wednesday the situations to refund the TARP funds.
It is predicted that the Treasury will ask banks to prove they can increase money without the government’s help, something that has not happen recently. It is noted that the S&P drop of 0.38 percent is very small as compare with the possible implications of the stress test results, something that propose that investors are certain ahead of the report.
In spite of all this, the financial sector continue to progress in the Asian session. This time Australia’s leading lender, Westpac, which announced that the first-quarter profit dropped inline with analysts’ outlook, drove the sector higher.
On Tuesday Forex updates the US market closed in the red, as the worth paid for crude oil turned down, sending the commodity stocks lower, while the financials goes down on low volume ahead of the stress test outcomes. Investors came stressed ahead of the stress test outcome, which are expected to show that 10 out of the 19 banks tested will need further capital. The pressure was even more on the financials, since the Treasury is likely to announce on Wednesday the situations to refund the TARP funds.
It is predicted that the Treasury will ask banks to prove they can increase money without the government’s help, something that has not happen recently. It is noted that the S&P drop of 0.38 percent is very small as compare with the possible implications of the stress test results, something that propose that investors are certain ahead of the report.
In spite of all this, the financial sector continue to progress in the Asian session. This time Australia’s leading lender, Westpac, which announced that the first-quarter profit dropped inline with analysts’ outlook, drove the sector higher.
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