Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 9, 2023. Asian shares were trading mixed Tuesday as investors took a wait-and-see view on the week ahead, which promises reports on some of the markets biggest worries, including stubbornly high inflation across the economy. – France's CAC 40 slipped 0.4% in early trading to 7,412.85. Germany's DAX inched down 0.1% to 15,938.15.
“Asian equities traded sideways on Tuesday after U.S. stocks traded within a tight range, remaining mostly unchanged in volatile trading, as investors reacted to the mixed response to the Fed’s senior loan officer survey," said Anderson Alves, analyst at ActivTrades. “The survey showed a tightening of credit availability, impacting companies’ margins and signaling an imminent economic slowdown.
The Fed said it’s not sure of its next move, as swaths of the economy have shown sharp slowdowns but the job market remains largely resilient.
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