Tuesday, 2 February 2016

XE Market Analysis: Europe - Feb 03, 2016

The yen rose for a third day, inversely tracking oil prices, which logged a third consecutive lower low during the Asian session as markets continue to unwind last week's exuberance. Neither encouraging services PMI surveys out of China and Japan, rising to a six-month high in the case of the latter, nor remarks from BoJ governor Kuroda that markets have been somewhat overreacting to the China slowdown narrative, failed to assuage investor anxieties, and stocks in Asia traded lower.



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