Yen May Extend Gains as Market Sentiment Continues to Darken

Talking Points:

  • Yen gains, Aussie and Kiwi Dollar dump on North Korea barb test
  • SP 500 and FTSE 100 futures spirit risk hatred approaching to continue
  • Augusts’ US consumer certainty information might pass but fireworks

The anti-risk Japanese Yen traded broadly aloft while a sentiment-linked Australian and New Zealand Dollars swooned in Asia Pacific trade. The markets started a week in a green mood and traders’ showing usually darkened as worries about a impact of Hurricane Harvey were compounded after North Korea conducted another barb test, this time aiming precisely toward Japan.

Looking ahead, a muted charity of European and US mercantile information is approaching to keep risk trends during a forefront. Futures tracking a FTSE 100 and SP 500 equity benchmarks are indicating decidedly lower, hinting that overnight trade dynamics are approaching to lift forward. In fact, a selloff might be compounded if Pyongyang’s latest act triggers another fusillade of saber-rattling from a Trump administration.

Augusts’ US consumer confidence statistics mount out among obtuse pieces of scheduled eventuality risk. The title view sign is approaching to parasite lower. US information upsurge has firmed relations to accord forecasts given mid-June however, hinting that analysts’ models are underestimating a economy’s vitality and opening a doorway for an upside surprise. That might tumble on deaf ears however as payrolls total dawn ahead.

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Asia Session

Yen May Extend Gains as Market Sentiment Continues to Darken

European Session

Yen May Extend Gains as Market Sentiment Continues to Darken

** All times listed in GMT. See a full DailyFX mercantile calendar here.

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

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