China Slowing Down, Fear & Loathing in Europe
Prior to the London open, the China HSBC Flash Manufacturing came out worse than expected, alarming investors globally. This initially sent the AUD and NZD lower but both recovered shortly after to hold modest gains throughout the day.
The situation did not get any better with German manufacturing also coming under expectations? This put salt into the Eurozone wound with the worries of a Grexit, and contingency plans for them to leave only exacerbating the situation. This translated into investors realizing no country is immune to this Greek tragedy. Its really a question of who will default first (Spain or Greece) but one will be the match and the other will be …... Keep reading