By: Economic & Finance Report
Asian stocks posted higher gains because of the rate cuts that were provided by China. China cut it’s deposit and lending rates, so it can offset deflation. The gains posted in Asia were somewhat limited because of small data adhered in the U.S. equity markets, which did not show major significance in its economic data.
US consumer buying did beat expectations but it did not send a ripple effect in the equity markets. The US dollar inched up .01%, while the Euro snagged $1.1160, which happened to be the Euro’s five year low. China yuan fell greatly to the US dollar, while US crude fell $.37 cents. In February US crude oil netted its first gain monthly, the last monthly gain in crude oil was in June 2014…
-SB