Asian Equities Lower after Data Deluge

Asian stocks mostly traded on the back foot early Thursday, as investors digested a flurry of economic data amid dampened sentiment due to a weaker finish on Wall Street overnight.

The spotlight remains on the commodity space; spot gold edged up modestly to $1,092.90 an ounce in early Asian trade after chalking up its 10th straight day of losses, in the longest losing streak for the precious metal in almost 20 years. In the energy space, U.S. crude fell below the $50 level after U.S. government data showed crude inventories up last week.

Over in Europe, the Greek government secured enough votes in parliament to pass a second package of reforms for a bailout package. The euro appeared little changed at 1.0944 against the greenback after the news.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.