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Asian stocks decline before US data

7th November 2013

Asian markets have generally traded lower today (November 7th), ahead of the release of the gross domestic product (GDP) growth figures relating to the US economy in the third quarter. 

The European Central Bank’s latest policy meeting is also set to take place during the European trading session, though analysts expect the bank to refrain from reducing interest rates, despite an unexpected drop in inflation last month. 

Today’s US data comes 24 hours ahead of the release of the comprehensive non-farm payrolls report for October, which will show how many new jobs were added by employers in the country. 

Both the GDP and labour market figures are expected to have a significant impact on the Federal Reserve’s intentions regarding its quantitative easing programme. In recent weeks, speculation has mounted the central bank will maintain its stimulus into next year.

A stronger yen weighed on the Nikkei 225 today, causing the index to decline by 0.76 per cent to 14,228.44 points.

In Hong Kong, the Hang Seng closed 0.75 per cent lower, while Australia’s ASX/200 ended the session down by 0.22 per cent.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.