The Asian markets (but not only) are in a phase where they see the glass as half empty. The MSCI Asia Pacific regional index is shedding 0,3%, and the culprits for the damage, in addition to the usual suspects, are found in Japanese GDP estimates, which fell by 3,5% (annualized rate) compared to the quarter previous year (and which is also expected to decline in the current quarter). But there is even more comforting news. Not only from outside the area - the parliamentary approval of the Greek budget - but also from China, where exports in October progressed more than expected.
Today the American markets are closed for holidays. The euro is at Friday's levels – 1.274 – and the yen continues to remain strong, below 80. In the currency field, the weakness of the Mexican peso should be noted, which seems to follow the story of the Brazilian real. After being the strongest currency of all from May to September (it had gained 12% against the dollar), the peso recorded the worst performance in the past month, falling by 2%. A weakness that should be related to the fatigue of the American economy, towards which 4/5 of Mexican exports are directed.
