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US markets decline; Asia mixed, euro above 1.33/$

The euro stays above 1.33 to the dollar. The dollar index is around 81.30 levels and yen continues to strengthen versus the dollar, it is at currently sub 97 level.

August 08, 2013 / 08:36 AM IST

US markets recovered from their worst levels, but still closed in the red for a third session, with major averages retreating further from their recent highs, amid renewed concerns about when the Federal Reserve may start to wind down its bond-buying program.


The Dow Jones industrial average fell 48.07 points or 0.31 percent, to end at 15,470.67. The S&P 500 declined 6.46 points or 0.38 percent, to 1,690.91. The Nasdaq Composite dropped 11.761 points or 0.32 percent, to 3,654.009. 


In key data to watch out for in the u-s today, weekly jobless claims are expected to rise to 336,000.


Asian markets were trading mixed in morning today. Bank of Japan will conclude a two-day policy meeting on Thursday and while no new action is expected following the central bank's massive April stimulus program, investors are hoping the central bank will provide some relief to markets by talking down the stronger yen.


European markets closed lower on Wednesday, led downwards by Britain’s FTSE 100 due to concerns that both the UK and US central bank may tighten monetary policy earlier than anticipated.


Bank of England governor Mark Carney unveiled a framework for the central bank's forward guidance. Carney said the bank will not raise interest rates until the jobless rate falls to 7 percent or below. The current figure stands at 7.8 percent. Meeting the target will require the British economy to generate 750,000 more jobs.


The euro stays above 1.33 to the dollar. The dollar index is around 81.30 levels and yen continues to strengthen versus the dollar, it is at currently sub 97 level.

Brent crude traded below USD 108 per barrel. Nymex also slipped below USD 105. From precious metals space, gold hovered around USD 1290 an ounce.

first published: Aug 8, 2013 08:36 am

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