Yen Strengthens as Asian Stock Decline, Demand for Safety

  • The yen continued to rise for the second day versus the euro and the dollar as regional equities and U.S. stock futures drop, prompting investors to reduce holdings of higher-yielding assets.
  • Japan's currency gained versus all of its 16 most-traded counterparts as Asian shares fell a second day and amid speculation exporters are taking advantage of the yen's
  • USD strengthens as Asian markets are looking to close negative, indicating a negative open for the European session 6:00GMT

Currency to watch out for: EURUSD & GBPUSD

  • The EURUSD pivot point is at 1.4320 with a preference to enter into long positions at 1.4330.
  • The GBPUSD pivot point is at 1.6820 with a preference to enter into Long positions 1.6830.

Today's calendar and market movers:

  • Euro Zone PMI
  • UK PMI
  • EUR Zone Retail Sales
  • US ADP Employment
  • US Durable Goods
  • US ISM Manufacturing
  • US Crude Oil inventories

Stocks:

  • US closed on Tuesday with the Dow up 0.36%, S&P 0.3% and NASDAQ   -0.43%
  • As of 07:00 The Asian session closes Nikkei is at -1.18% and the Hang Seng at -1.38% (7:00gmt)
  • EUROPEAN stocks open FTSE100 0.03%, DAX  0.11% and the CAC40 0.38% 7:20 gmt
  • US Future markets Negative