
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
On Monday, the Japanese yen soared versus the evergreen buck because market participants changed their exposure to riskier assets right after North Korea dared to conduct its most powerful nuclear test.
The US currency dived to as low as 109.22 yen during early Asian trade.
The heightened risk aversion followed Sunday’s news of North Korea's sixth and perhaps most powerful nuclear test. It actually prompted the warning of a huge military response from America in case it or any of its allies were threatened.
By the way, the Japanese yen nearly always surges when market participants try reducing exposure to risk. It’s because the Japanese currency is often utilized as a funding source to purchase riskier, higher-yielding assets.
Japan appears to be the world's number one net creditor nation, so at times of uncertainty market participants suggest Japanese repatriation from foreign countries will supplant foreign investors' selling of Japan’s assets. Apparently, the Japanese yen has kept behaving as a safe-haven currency notwithstanding Japan's proximity to North Korea.
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
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Some progress in US debt ceiling talks is made, and the PMI data is out.
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