Today, the traders were provided with a unique opportunity to react to the US employment report of March. In the report, the US Government claimed of having made about 120,000 employments possible. However, more was expected and less was achieved by the Government.
The ongoing deteriorating conditions of the US economy have overshadowed the trades of Germany and China. The Head of FX research of RBC, Adam Cole was reported as saying, “I think the risk is even a normal quarter will be seen as disappointing”.
The share markets have been performing poorly. Banking sector and mining industries have performed poorly among all. The shares of Lloyds Banking Group have plunged by 1.8%. Besides, the gold mining industry has been severely hit by military coup in Mali.
The markets of the world have performed poorly soon after the revelation of US employment report. The Asian stocks and FTSE All World index plunged by 0.3%. London’s FTSE 100 index and FTSE Eurofirst index have also slipped by 0.8% and 0.9% respectively.
The markets of the world have reacted against the poor performance of the US economy. The sluggish recovery of the US economy would continue to adversely affect the markets of the world.
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