On Tuesday, Asian equities headed south along with crude prices due to the fact that downbeat mood about world surge drove traders away from risky assets…
Asian equities dive on trading war concerns
On Monday, Asian equities declined to near three-week minimums amid worries of a global trade conflict, while the common currency was fragile in the FX markets because of concerns that in Italy an anti-establishment coalition government could potentially spring up from elections.
On Sunday, Italian voters delivered a hung parliament, rushing to anti-establishment as well as far-right parties in huge numbers and bringing the euro zone's number three economy into a political trap, which could take much time to clear.
After such a beginning, the euro rebounded to $1.2323 from a two-week maximum of $1.2365 because the euroskeptic 5-Star Movement hoped its support soar would turn to be the largest single party, following projections built around early vote-counting.
The common currency was still gaining support after Germany's Social Democrat party underpinned the reunion with Angela Merkel's conservatives, enabling her to create a new government over five months since Germany’s inconclusive election.
The euro also gained support from safe-haven flows, with risk sentiment strengthening worries of a trade conflict after Donald Trump rolled out tariffs on imported aluminum and steel.
The evergreen buck dived for a fourth straight trading session hitting 105.49 yen, although it was a bit higher Friday's minimum of 105.23. The given mark hasn’t been observed since November 2016.
Traditionally gauging the greenback’s value versus a group of key rivals, the US dollar index stood still.
On Sunday, China told that it didn’t want a trade feud with America, but nevertheless it’s going to have its interests protected, warning that policies built around mistaken assumptions are going to damage bilateral relations.
Many market participants are afraid that today’s momentum in the world’s economy could slump if Trump dears to start a trade feud.
MSCI's broadest benchmark of Asia-Pacific equities beyond Japan dived 0.8%.
Japan's Nikkei as well as South Korea's KOSPI declined 0.7%.
On Monday, London markets managed to gain due to the fact that traders weighed up the latest China surge data and also waited for UK Prime Minister Theresa May to outline her fresh Brexit proposal to the country’s parliament…
On Monday, European equities dived from six-week maximums after China's fourth-quarter surge figures confirmed a deceleration in the world's number two economy with the previous year its worst year since 1990…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…