Today the Asia sentiment was on the Risk-off side as the financial markets reacted to fresh trade tensions around the US and Japan. That created a fear in the market and stopped the demand for the higher-yielding/ risk assets. The Asian stocks dropped to more than a year low while the greenback caught a new fresh uptrend and recovered its previous losses across its main competitors.
The Yen bulls regained their bullish appetite, pushing the USD/JPY pair lower to 111.49 level. The EUR and the pound were under pressure, even though the new Brexit optimism was in focus with UK jobs data. At the same time, the CAD and oil got support from some progress on the NAFTA talks. Gold prices, on the other hand went down, below the $ 1200 mark, as Fed’s tightening plans continue to weigh.
China is asking WTO for imposing sanctions on the US
Daily Analysis - 12/09/2018