China's RRR Cut Upstaged by Uncertainty in Eurozone

Financial markets remained in choppy trading in Asian session on Monday. Although Chinese government's reduction in RRR might help stimulate growth, pessimism continued amid uncertainty in European election outcomes. Investors also worried the banking sector in Spain will need to be bailed out eventually despite reforms. Commodities remained under pressure with the front-month contract for WTI crude oil falling to as low as 95.17 and the equivalent Brent crude contract to 111.72. Comex gold continued to trade below 1600.

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China's RRR Cut Upstaged by Uncertainty in Eurozone