Asian equities fell early on Monday as market participants turned to haven assets after North Korea’s latest nuclear test on Sunday sending the yen, gold and Sovereign bonds higher. Following this, U.S. President Trump threatened to increase economic sanctions and halt trade with any nation doing business with Kim Jong Un’s regime
USD/JPY dropped around a big figure from late Friday levels falling as deep as 109.22 early on Monday, currently the pair is seen trading around 109.80 as there were no follow through selling after the inirial drop. Overall the yen has climbed 0.4 percent against the US dollar. Japan is the world’s largest creditor nation and traders tend to assume Japanese investors would repatriate funds at times of crisis, thus pushing up the yen
EURUSD opened a few points net higher for the session and is currently seen trading at 1.8820, overall the Euro has climbed 0.2 percent against the US Dollar. The investors are wary ahead of a European Central Bank meeting on Thursday as there have been reports some at the ECB are unhappy with the euro’s strength. The Dollar Index slipped 0.1 percent and currently trading at 92.68.
AUDUSD has recovered from its early losses and is currently seen trading back around 0.7962. Earlier on Monday, the Australian dollar had lost 0.2 percent against the US Dollar dropping to lows of 0.7946. On the other side, the kiwi has strengthened against the US Dollar following a minor drop earlier in the session, Currently the NZDUSD is seen trading at 0.7175 gaining 30+ pips from today’s opening.
Tuesday, September 5th
Wednesday, September 5th
Thursday, September 6th
Friday, September 7th
IC Markets is revolutionizing on-line forex trading; on-line traders are now able to gain access to pricing and liquidity previously only available to investment banks and high net worth individuals.