Video

#SaxoStrats
The Moody's downgrade of Chinese debt saw iron ore futures crater as markets weighed the possibility of a deepening growth contraction. The move hit AUD, but not as hard as might be expected given USD's gathering bid.
Editor’s Picks 31 May 2016 at 2:17 GMT

Asian shares wobble, on track for monthly loss

Reuters
Asian shares wobbled in early trade on Tuesday and were on track for a monthly loss, while the dollar edged away from recent peaks scaled on heightened expectations the US Federal Reserve will raise interest rates as soon as next month. Underpinning Asian sentiment, European shares hit one-month highs on Monday amid otherwise light trade with markets in London and New York closed for public holidays. "With UK and US markets closed overnight, Asian markets will be looking to Europe for leads today," Angus Nicholson, market analyst at IG, said in a note. MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early trading, ending more than 2% lower for the month. The Nikkei slipped 0.3% after rallying 1.4% in the previous session. It was up 2% for May, getting a tailwind from a weaker yen. Japanese industrial output unexpectedly rose 0.3%in April, suggesting production is holding up despite weak exports. Against the yen, the dollar slipped 0.3% to JPY 110.83.
Read full article at Reuters

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Tradingfloor.com and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Tradingfloor.com is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.com or as a result of the use of the Tradingfloor.com. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail