FXstreet.com (Barcelona) - Asian markets have opened the week with declines on the back of weak corporate profits, which have shown the picture of a resilient economic slowdown. Euro and Pound have remained consolidating after Friday's downward corrections.
Nikkei Index has dropped 2.9% as exporters' shared declined on a stronger Yen. Other major indexes in the area, including Australia and South Korea declined more than 1%.
Panasonic shares dropped 7.8% on Monday after bigger than expected slump on annual profits. Australian mining companies, including Rio Tinto declined weighed by lower oil and metal prices.
Euro and Pound consolidating after Friday's declinesEUR/USD decline from Friday's high at 1.3650 has found a base on Asian session at 1.3425, and the Euro is trying to pick up reaching levels at 1.3460 at the moment of writing. Volatility is very low.
GBP/USD has found support at 1.5115 on early Asian session on its decline on Friday´s U.S. session from 1.5290 high. The Pound has ticked up on Asian session to levels around 1.5160 art the time of writing.
USD/JPY has continued declining in Asian session, and the Dollar reached a fresh two months low at 94.55. At the moment, the Dollar is bouncing up to levels right at 95.00 although volatility is very low.
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