Market Snapshot – Stocks Correct Lower

Stocks Correct on Weak Chinese Data

The risky assets did not fare too well today as the Chinese data weighed on the markets today and kept them under pressure. The DAX corrected lower today after breaking through to new highs yesterday and this was the case with most stock market around the world which have been making highs followed by periods of correction, something that we saw today. This is likely to continue for the short and medium term as long as the tension in the Korean region does not interfere with the flow of the markets. The tension there has always been around the corner as far as the markets are concerned and this has been making it difficult to trade the stock markets with abandon.

Pound Remains Under Pressure

The pound and the euro continue to remain under pressure as the dollar remained steady across the board. The market is looking forward to the reports on who the next Fed chair would be and it is widely expected to be a hawkish member and if that happens, then we could see the dollar pushing even higher against the other currencies. There is a bit of lack of data in the markets this week and the next as we are in the second half of the month and hence the market has to depend on such economic news to spur itself into volatility.