Thungen Financial 22nd January 2015 - Global Economic News

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Thungen Financial 22nd January 2015 - Global Economic News

Asian markets were muted today after a 3 day rally that saw them reach 8yr highs.

Economic news out of China earlier in the week along with news out of Japan has seen the region reverse the losses seen earlier in the year.

China grew at 7.4% in 2014, just under its 7.5% target and the Japanese government has continued its hard line against deflation, albeit without any significant policy changes.

Markets in Europe are expected to open higher on the possibility that Mario Draghi, the head of the European Central Bank will finally announce details of his proposed QE scheme.

Analysts have been quoting anywhere from €350bn to €700bn being injected however the latest news from Reuters suggests a starting figure of €50bn per month from March. All that is really left is to finds out the exact amount and what type of bonds the European Central Bank will be purchasing.

One casualty of the news will probably be the Euro. Despite easing off losses against the dollar yesterday, it is expected to fall further with many calling a bottom at parity with the dollar, coming very soon.

US indexes were cautious ahead of the ECB meeting and did not react to the President's State of the Nation address. Little was said, but the President did manage to confirm that the US economy was strong. Something he has not been able to do in previous addresses.

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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.

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