Nikkei pares losses, European markets on deck
- Nikkei pares losses, still sheds almost 5% on the day.
- German President Weidmann today at 09:00 GMT, ECB Non-monetary policy meeting early tomorrow.
Tokyo's leading Nikkei 225 Index managed to pare back some of its losses today, but still down 4.73%.
Risk aversion in equities have crushed markets for the passed two trading days, sending major indexes sprawling and traders fleeing for safe haven currencies, much to the chagrin of Japanese central planners trying very hard to talk down the Japanese currency in recent days, with multiple heads of the BoJ making appearances in Japan's Parliament, hoping to grab the market's ear and remind traders that the BoJ has no intention of increases rates anytime soon, no matter how badly traders want to price it in.
European markets begin to open next, and hope will be high that the global equities selloff may find a resting point with little economic data on the docket today; German central bank President Dr. Jans Weidmann will be delivering the opening speech at the Bundesbank Lecture in Frankfurt at 09:00 GMT, and his tone in regards to rate expectations could give markets a much-needed reason to buy back some of the heavy selling it's been doing today. The ECB will also be holding their Non-Monetary Policy Meeting at 08:00 on Wednesday, but little is expected from this other than to reiterate their previous statements.
Author
Joshua Gibson
FXStreet
Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.
