Thungen Financial Weekly Update
As the third week of March draws to an end the global markets remain settled paring any gains previously made in the week.
Asian have continued to decline as news out of two of the largest economies Japan and China both state that their economic outlook for 2014 is not as positive as predicted.
Asian Markets as of 21st March:
Nikkei 14,223.98 -1.65% SSE Comp. 1,993.46 -1.39% Hang Seng 21,241.04 +0.26%
ASX 5,354.00 +0.78%
European markets are tentative as they wait to hear whether the EU will look to extend the current sanctions placed on several Russian Politicians. With the EU's exposure to Russian business and energy there are serious concerns for some EU members as to the weight of the sanctions they can employ. Several governments have already stated that economic sanctions towards Moscow are simply not up for consideration.
European Markets as of 20th March:
FTSE 100 6,542.43 -0.46% Dax 9,296.12 +0.21% CAC40 4,327.91 +0.46
BEL20 10,092.70 +0.13 Zurich SMI 8,280.05 +0.22% MICEX 1,320.50 +0.11%
Despite a potentially positive announcement that the FED will be easing its QE and that it is reducing its bond buying program substantially over the coming months the indexes have posted very few gains. Good data regarding unemployment and consumer spending did nothing to spur the market to hold the early gains it made at the beginning of the week. As with Europe, US markets are waiting to see how President Obama will play the crisis in Crimea and the level of economic sanctions he will look to place.
US Markets as of 20th March:
S&P500 1,872.01 +0.27 Dow Jones 16,331.04 +0.66% NASDAQ 4,319.29 +0.26%
With no economic indicators expected at the close of the week we look towards next week for guidance and news out of Eastern Europe to drive the markets in the right direction.
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DISCLAIMER The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Thungen Financial Advisors. All market data within this release is for your general information and enjoys indicative status only. Thungen Financial Advisors does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.