Asian markets down for the fourth day – waiting for US jobs
The index MSCI Asia-Pacific is leaving a 0,3% (price/earnings ratio of 13), with the fourth consecutive day of decline. However, the trend looks more like a correction than a trend reversal. The market is struggling to find some shadow in the data to justify the (modest) drop in prices, and this time it was the turn of the American PMI indices, which decreased more than expected, even if they remain on solid expansionary ground.
In Tokyo, the Nikkei fell by 0,6%, with the yen halfway between 104 and 105 against the dollar. The euro is stable at around 1,362 and the Australian dollar is weakening again. The yellow metal consolidates around $1240/ounce and black gold loses something, at $93,6/b (Brent at 107,2).
Equity futures in London and New York are slightly positive. Markets are eyeing the week's crucial data, which will be released on Friday: jobs created in America and the unemployment rate.
http://www.bloomberg.com/news/2014-01-07/asian-stocks-fall-fourth-day-on-yen-slower-u-s-services.html
