It has been a tough week for the global stock market to find directions as we enter the Christmas and year-end holidays due to the low volume of trade, Thursday of this week.
Asia’s stocks, especially in China, were leading losses in the holiday period. China is known to be a huge region of consumer in the market. At the same time, European stocks dropped at the start of the holiday break. However, doors are not yet closed of the European market and are still looking forward for gains for the current week. The U.S.’ greenback is expected to remain low at 0.4% at 97.99 during European morning hours.
If we are to take a close look at the data given above, it is quite clear that as the holiday season is set to start, the global economy is hugely affected with the light trade that is set forth during this season. Christmas and year-end holidays drag down the orders and shipment of core capital goods which is the prime mover of the market. As a return, losses are likely to occur creating a chain of changes in the market today.