Markets Tilt Risk-Off As Global Growth Uncertainty Weighs On Risk Sentiment
Heading into today’s European trading session, the risk tone is leaning risk-off. Asia-Pacific indices are negative, measures of volatility are elevated, and safe havens supported.
Leading Asia-Pacific indices to the downside is the Hang Seng at -2.22%, followed by the ASX 200 at -1.82%, the Nikkei 225 at -1.69% and the Topix and CSI 300 at -1.00% and -0.85%, respectively.
In the FX complex, the risk-off tone – which remains a function of economic uncertainty in both China and the global economy – kept safe havens supported. Consequently, it’s JPY leading the majors to the upside, followed closely by USD.
In contrast and in keeping with the risk-off tone, the antipodeans are leading to the downside, with AUD the session laggard, followed closely by NZD. Consequently, AUDJPY is quickly approaching the 89.00 handle, while NZDJPY has now slipped below the 81.00 handle.
Looking ahead, today’s European session is light on tier one data, keeping the market’s focus firmly fixed on concerns surrounding monetary policy expectations, economic outlooks and the subsequent prevailing risk tone.
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First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, Vc0100, Saint Vincent & the Grenadines.
+44 (745) 814 8133 , +44 (204) 577 3336
+44 (204) 577 3336 www.ClimaxPrime.org [email protected]
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