ASIA OUTLOOK: Regional stock markets may fall Thursday following a mixed but roughly flat close on Wall Street Wednesday after the market was largely underwhelmed by the Fed's decision to extend Operation Twist through the end of the year as many investors were hoping for a commitment to stronger stimulus measures. Investors balanced the FOMC outcome with an earlier report citing ECB member Benoit Coeure as saying the ECB might discuss cutting rates as early as its July meeting. In FX markets the USD may benefit from the Fed's decision not to undertake any additional easing measures. Focus Thursday will fall on China's HSBC flash PMI data for June as well as the upcoming release of a preliminary audit on Spanish banks. The EUR/USD is at 1.2690 from 1.2708 late Wednesday in New York, the EUR/JPY is at 100.86 from 101.08, and the USD/JPY is at 79.47 from 79.55. On the data slate there's the RBA's June bulletin at 0130 GMT, China's June HSBC flash manufacturing PMI at 0230 GMT, Japan's April revised machine tool orders at 0600 GMT, Hong Kong's May CPI at 0830 GMT and the Taiwan central bank's policy decision. In the U.S. there's June flash manufacturing PMI, the April house price index, the June Philadelphia Fed business outlook survey and May existing home sales.
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Thanks for this information, this time the currency is falling rapidly and hence the reason of downfall in economy.
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