Asian equity markets started the week lower following weak economic data from the world’s two largest economies.
The U.S. added 209,000 jobs last month, below expectations for 233,000, while the jobless rate rose to 6.2 percent from 6.1 percent, which saw the S&P 500 post its worst weekly loss since June 2012. But traders say the data reinforced the view that the Federal Reserve won’t hike rates until the second half of next year.
The mood in Asia was also soured after data over the weekend showed growth in China’s services sector hit a six-month low in July as new orders rose at their weakest rate in a year.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015