Asian stocks slipped on Monday after weak U.S. employment data set a cautious tone to the week, further hobbling the dollar and putting the rising euro on a path to USD 1.50 ahead of a European Central Bank policy meeting.
The weakest U.S. jobs growth in eight months in May reflected a global business cycle shifting to slower growth and confirmed what many investors had been already anticipating by taking a defensive stance in their portfolios.
The two outstanding questions for them are if the synchronised slowdown reflected in industrial indicators around the globe is a warning of something worse on the horizon and whether monetary policy can again come to the rescue of major economies this time.
The weakest U.S. jobs growth in eight months in May reflected a global business cycle shifting to slower growth and confirmed what many investors had been already anticipating by taking a defensive stance in their portfolios.
The two outstanding questions for them are if the synchronised slowdown reflected in industrial indicators around the globe is a warning of something worse on the horizon and whether monetary policy can again come to the rescue of major economies this time.
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