international news

2013. nov. 8.

Asian stocks were trading lower on Friday, despite some decent trade data out of China. Stocks in the region are set for another round of weekly losses even after solid data out of the U.S. and an unexpected rate cut by the European Central Bank.
Chinese policymakers are set to meet this weekend to discuss reform initiatives, but the AUD will remain on traders' radar in the coming days because China delivers inflation and retail sales data.
Standard & Poor's cut France's 'AA+' credit rating to 'AA' and changed their outlook to stable from negative. The rating agency cited weak economic prospects with fiscal constraints as a reason for the downgrade.
European stocks opened lower on Friday after the downgrade, and the EUR is trading flat against its major counterparts this morning after yesterday's rate cut by the ECB.
Today's economic calendar will be light during European hours, but market players should keep an eye on a flurry of economic releases in the US, especially non-farm payrolls and the Reuters/Michigan consumer confidence data to ascertain the strength of the economic recovery in the US.
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