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
- US closed on Tuesday with the Dow up 0.36%, S&P 0.3% and NASDAQ Â Â -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 Â 0.11% and the CAC40 0.38% 7:20 gmt
- US Future markets Negative