Economy News Shares

Most Asian Pacific Markets Were Down Today

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Since yesterday, the Fed’s have released their newest policy revisions and economic recommendations. This has sent many Asian markets into various states of decline. From the Hang Seng to the Nikkei, the struggle to understand where to go from here has left many investors at a loss for words.

Speaking of the Nikkei Index, MetaNews analysts reported a marked decline of about 1.1% by 10:11 PM ET, while we also observed the KOPSI decline by ¾ of a percent by the same time.

The Australian Markets were lower as well, despite better-than-expected unemployment reductions for the quarter (which were released earlier last month).

If you look at the Shanghai Composite, you won’t be worried, especially if you’ve been paying close attention over the past few months. The overall trend is one of growth and recovery, despite slips in that trend prevailing for weeks at a time in some cases. Having said that, the Composite was down today by 0.21%.

Asian currencies such as the won found themselves in trouble today, especially after the seemingly mystifying and meteoric rise of the USD, which saw its largest spike in value since last year.

Chairman of the Fed gave unconvincing reassurances that immediate interest rate increases wouldn’t be a concern. He went further and stated that the first of two interest rate increases wouldn’t be seen until late 2023. It remains to be seen in actual policy whether or not this is has any firm grounding.

Considering How these changes and murmurings have affected the Asian markets at the outset, in just 24 hours, we aren’t exactly confident that more changes which override these are not on the horizon.

Many of us have been caught off guard by today’s revelations, and didn’t get everything we wanted as far as inklings of how this Fed meeting will help or hurt currencies and other markets. Since yesterday, the Fed’s have released their newest policy revisions, and we will have to wait and see what this means in the short term.

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Billy Houghton

Billy Houghton is a top acclaimed and sought-after commodities futures trading expert. The expertise and in-depth level of analysis that is offered by Billy Houghton is what has managed to put him at the stage of being the top ranked author for MetaNews among multiple different categories. Throughout his career, Billy has specifically spent over three decades on Wall Street fine-tuning his skills, which included over two decades at a trading desk. In more recent times, specifically the last decade, Billy has been researching algorithms of AI in futures trading, and believes they are the future of trading.
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