The Weekend Is Over And Markets Are Lower

The weekend is over and Asian markets are lower.

Australia’s S&P/ASX200 is down 0.4% and Japan’s Nikkei is down 0.5%.

The euro rose against the yen, after European Central Bank president Mario Draghi said further euro appreciation would trigger stimulus. The stronger yen seems to be weighing on Japanese stocks.

Robert Savage at Track Research pointed out they key statement from Draghi in Washington. “The strengthening of the exchange rate would require, to make our monetary policy stance to remain equally accommodative, it would require further monetary policy accommodation.”

Investors are also jittery over increasing in tensions between Russia and the Ukraine after, Ukraine sent forces to Slaviansk to oust pro-Russian rebels.

Meanwhile, U.S. futures are modestly lower. The S&P and the NASDAQ are off 0.1%. U.S. stocks took a beating on Thursday and Friday.

This is however a big week, with loads of Chinese data, including Q1 GDP out on Tuesday. Meanwhile, 54 S&P 500 companies are reporting earnings this week.

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