FXstreet.com (Barcelona) - Asian markets are going through substantial declines on Friday after weak U.S. data arose concerns about the pace of economic recovery in the world's main economy, ahead of key U.S. Non-Farm payrolls report later on the day. Euro and Pound have dipped to fresh lows.
Japanese Nikkei Index has declined 2.46%, its sharpest sell-off since July, while Hong Kong's Hang Seng Index dropped 2.3%, Taiwan benchmark index shed 1.7% and Australian S&P Index declined 1.8%.
Investors sentiment was beaten by weaker than expected U-S. jobless claims and Manufacturing ISM figures which added reasons to think that full economic recovery will take longer than expected for U.S. economy.
Euro and Pound visit fresh lows
EUR/USD has continued its decline from September 23 high at 1.4845, as the pair dropped during Friday's Asian session, from 1.4665 high to 1.4500 support level which, so far, remains intact, as the pair has returned to 1.4550 at the moment of writing.
GBP/USD decline from 1.6125 high on September 30 has extended below 1.5920 low on Thursday to hit 1.5880 Asian session low, although the pair has picked up slightly and at the time of writing, reaches levels around 1.5930.
USD/JPY has dipped from 90.15 high on September 30 to reach levels right below 89.35/40 (Sept 30 and Oct 01 low) to hit 89.20 low before picking up to levels around 89.50 at the moment of writing.