FXstreet.com (Barcelona) - Asian markets are, in most cases, going through declines as investors remain hesitant about global economic outlook after Thursday decline on Wall Street, due to a decline of the demand of energy. Euro and Pound consolidate at lower levels.
Japanese Nikkei Index shed 0.3%, while Chinese Shangai Composite Index dropped 1%. South Korean Kospi Index declined 0.8% while markets in Australia and Singapore slid 0.8% and 0.4% respectively.
U.S. markets declined on Thursday after a mixed opening, on the back of a report from U.S. Government showing that a decline on energy demand, due to the economic turmoil, has produced a large increase of energy inventories. Stock markets reacted downwards.
Euro and Pound, coming up from lows
EUR/USD dropped on Thursday from 1.5015 high on Asian session to reach a fresh intra-week low at 1.4820 support area, before starting a timid recovery during Asian session reaching levels around 1.4875 at the moment of writing.
GBP/USD was rejected at 1.6625 on Thursday's Asian session, and the pair declined to 1.6515 low before picking up during today's Asian session, reaching back to levels above 1.6600 at the moment of writing.
USD/JPY rose on Thursday from 89.65 low to 90.60 high, before easing during Asian session to 90.15 low. At the moment, the Dollar trades at 90.30 after having met resistance at 90.40 area