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Forex Flash: Markets are becoming increasingly sensitive to signs of slower global growth - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that markets are becoming increasingly sensitive to signs of slower global growth.

They comment that last week, markets got weaker than expected Chinese Q1 GDP and overnight, weaker than expected Chinese HSBC flash PMI data for April came in, alongside a disappointing euro zone flash PMI. They write, “Euro zone April flash PMI composite came in as expected, steady at 46.5, while manufacturing was 46.5 vs. 46.7 consensus and 46.8 in March. It was the breakdown that disappointed markets, as German manufacturing PMI´s was 47.9 vs. consensus of steady at 49.0 while German services fell to 49.2 vs. consensus rise to 51.0 from 50.9. The French components both improved marginally, but the drop-off in the German readings is clearly more important.”

American equity markets rise steadfastly

The US stock market edged higher Tuesday, helping pare yesterday’s losses. Beginning with the indices and composites, the NASDAQ climbed +0.86% as it settles in region of 3261.32, up +28.10 points in these moments. In addition, the S&P 500 is trading in positive territory, operating at 1554.85, ascending +12.44 points or +0.80% at the time of writing. Finally, the Dow Jones has edged higher at the opening, trading in the zone of 14679.43, presently +0.77% after a movement of +112.26 points.
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