(IXIC) NASDAQ Loses More On Monday, Villeroys Comments Leaves Investors Hopeful For EU Bonds This Summer
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Summary:
- Economic news from China affecting the US stock market.
- The possibility of a recovery of the Euro.
NASDAQ falling again
After China released their poor economic data in the wake of the covid lockdowns around the country, the NASDAQ experienced poor performance on Monday. The Chinese economic data added to worries of economic slowdown against the simultaneous Federal Reserve’s aggressive monetary policy.
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This declining NASDAQ on Monday follows the week-long decline experienced by the main indexes. In addition, investors are concerned that the aggressive Fed continuously tightening monetary policy may tip the US economy into a recession, also affecting the NASDAQ index.
NASDAQ Price Chart
EUR/USD
Historically, the month of May is usually a good month for the value of the US Dollar. In the past it has been normal for European currencies to weaken during May. On Monday European Central Bank (ECB) representative Villeroy commented on concerns regarding the weakening Euro and the adverse effects it could have on reaching inflation targets. This comment sparked investor interest as it indicates the possibility of a busy summer for the ECB regarding treasury yields.
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Sources: finance.yahoo.com
