Global equities suffered a poor start to the week with inflation, growth and interest rates all coming under the microscope. Shares in the Chinese Mega-Property firm ‘Evergrande’ were suspended from trading, along with another property giant Hopson, sending jitters through Asian markets. The fears of a collapse infected European and US markets. The USD Dollar was softer, with the Yen trading 110.80, while the GBP rallied above 1.3600.
Under pressure commodity currencies continued to stabilise, with the AUD trading 0.7280, while the NZD hit 0.6950. Fears over the Chinese property collapse will continue to infect Asian market and commodity demand. Supply chain issues still remain prominent and a threat to market stability.
Focus will remain inflation and growth, as markets look towards the all important US Non Farm Payrolls, set to be released Friday. Entree will come in the form of the ADP and Challenger Jobs reports.