Asian markets yo-yoed between gains and losses last night after President Obama appeared to be handed an alternative to military action in Syria, expect this trend to continue as a diplomatic resolution drags out. Commodity prices were the main driver of these fluctuations, with crude oil continuing its price decline Japan’s energy explorer Inpex Corp sank 2.8%.
UK markets have unemployment numbers to look forward to today. Vince Cable With the markets rallying on the back of recent bullish sentiment on the UK’s fast-paced recovery a worse than forecast outcome could cause a shock to the markets as investors are brought in-line with a more modest growth reality.
President Obama received a much needed reprise yesterday on a congress vote on Syria. The vote which had seemed to be all but lost for the President was delayed as Russia, seizing on John Kerry’s offhand comment, attempts to broker a deal with Syria for the surrender of their chemical weapons. While the practicality of this deal seems somewhat lacking, Syria’s tentative agreement none-the-less bought Obama time to regain composure and attempt to rally support for military action should a diplomatic resolution fail to come to fruition.