Yen, Franc Rise on Fed Rate Hike Impact Worries Before ISM Data
TALKING POINTS – YEN, FRANC, US DOLLAR, ISM, FED, TRADE WAR
- Yen, Franc rise on Fed rate hike impact worries before ISM data
- Australian, New Zealand Dollar follow APAC stocks downward
- Trade war fears may return as White House readies China tariffs
The anti-risk Japanese Yen and Swiss Franc were on the offensive as risk appetite deteriorated in Asia Pacific trade. On the opposite side of the G10 FX sentiment spectrum, the pro-risk Australian and New Zealand Dollars suffered outsized losses.
A parallel rise in US Treasury bond yields suggests worries about the knock-on impact of Fed tightening reemerged. Recent turmoil in emerging market assets has reflected has reflected concerns about their inability to weather a global rise in borrowing costs courtesy of the US central bank’s rate hikes.
The move may mark pre-positioning before services ISM data, where expectations point to a pickup in activity growth. Tellingly, the US Dollar produced uneven results – gaining on the commodity bloc currencies but falling against the Franc and Yen – as yield- and safety-driven considerations clashed.
Renewed trade war fears may compound pressure on risky assets. The end of the public comment period on the next round of anti-China tariffs championed by the Trump administration ends today, which may pave the way for their implementation. Some 6,000 products are targeted at a total value of $200 billion.
ASIA PACIFIC TRADING SESSION
EUROPEAN TRADING SESSION
VERIFY YOUR ACCOUNT AND GET YOUR $30 INSTANTLY ,MAKE MONEY WITHDRAW !!
IT IS POSSIBLE TO SHIFT FROM $30 TO $1,000,000 TRY TODAY
IF YOU FACE ANY PROBLEM TO GET THIS OFFER PLEASE CONTACT US
FOR SUPPORT , CLICK SMS BAR ABOVE THEN TALK TO US
Comments
Post a Comment