Japanese stocks descend and stock markets in Asia did not move that much as the incoming Federal Reserve policy meeting looms closer. According to information for the month of September, the pending home sales of the United States have missed their mark with a 5.6 percentage. This data means the U.S. pending home sales are at their lowest since the month of December.
Meanwhile, a high target was achieved by the S&P 500 as Wallstreet closed Monday with almost no changes at all. Due to this development, a feeble lead was afforded to Asia. Also, stocks in the region closed with no big moves at all while a slew of markets closed with a mark considered as break-even.
On the other hand, the Australian stock market is being pressured with a decreasing 0.5% due to Reserve Bank of Australia Governor Glenn Steven’s speech. The said speech gave the market uncertainty on whether Australia has a healthy economy or not.
In his speech, Stevens stated the Australian dollar is not dependable due to certain factors affecting Australia’s economy negatively. As of the present, the Australian dollar’s value decreased from 95.77 US cents to 95.09.
In the meantime, the Nikkei average fell 0.5%. This data was calculated with the power of Japan’s Yen at 97.52 against the American dollar last Monday.