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POPULAR NEWS
Yen Surges, Offshore Yuan Tumbles as Trade War Intensifies

The yen surged on Monday as investors flocked to safe-haven assets after a sharp re-escalation in the U.S.-China trade war, which whacked investor confidence and darkened the global economic outlook. The yuan also tumbled in offshore trade, weighed by expectations of a deeper slowdown in China as the world™s two-largest economies exchanged barbs over trade. The Swiss franc and gold, two assets sought during times of heightened risk aversion, shot up in early Asian trade. The yen surged to...

Tokyo's Nikkei Opens Down 2.6% as Yen Surges on Trade Fears

Tokyo's key Nikkei index plunged as much as 2.6 percent at the open on Monday as the yen surged against the dollar on escalating US-China trade tensions. The Nikkei 225 was down 2.56 percent, or 529.86 points, to 20,181.05 in early trade, while the broader Topix index lost 2.45 percent, or 36.78 points, to 1,465.47. Source : AFP

Asia Shares Sink, Bonds Surge as Trade Fears Mount

Asian shares were a sea of red on Monday as the latest salvo in the Sino-U.S. trade war shook confidence in the world economy and sent investors steaming to the safe harbors of sovereign bonds, gold and the Japanese yen. Yields on benchmark 10-year Treasury debt dropped to their lowest since mid-2016, while gold hit its highest since April 2013 as risk was shunned. The Chinese yuan also came under pressure, with the dollar quoted up at 7.1710 and markets braced for more intervention from...

Hong Kong Stocks Plunge More Than 3% at Open

Hong Kong stocks dived more than three percent in the first few minutes of business Monday after Donald Trump ramped up his trade row with China, while the city was hit by fresh violent protests over the weekend. The Hang Seng Index dived 3.27 percent, or 857.33 points, to 25,322.00 at the open. Source: AFP

Gold Touches Over Six-Year Peak as Risk-Off Appetite Stoked

Gold prices jumped to a fresh six-year high on Monday as the announcement of new tariffs in the escalating Sino-U.S. trade war sent equity markets tumbling, and investors rushing for safe-haven assets. Spot gold jumped 1.2% to $1,544 per ounce as of 0141 GMT, having earlier touched $1,554.56 an ounce, its highest since April 2013. U.S. gold futures were up 1.1% at $1,554.90 an ounce. On Friday, U.S. President Donald Trump announced a 5% additional duty on $550 billion in targeted Chinese...

USD/JPY steady into 2019, although risk aversion favours downside
Wednesday, 2 January 2019 08:15 WIB | CURRENCIES |JepangDolarUSD/JPY,

USD/JPY travelled from the upper 113's to a low of 109.55 in December, extending the downside in the later part of the month in thin holiday markets that saw some extraordinary price action on Wall Street which benefitted the yen on classic safe haven flows.

The US rate complex has been dented following the Fed's recent switch in dovish rhetoric at the same time that investors have started to fret over a global economic slowdown sentiment. Sino-American trade tensions coupled with the US government's shutdown as well as the reports of Chinese officials hacking the US in the final weeks of the year sent the yen bid leaving the downside exposed with the price consolidating below the 200-DMA  in three consecutive daily bearish closes.

Meanwhile, China's official nonmanufacturing PMI, which includes the construction sector, fell to the weakest level in 17 months in October, mainly due to weakness in the service sector, which is an anchor on the pair as well.

Trump is sending a mid-level US delegation to China

China and International Trade in 2019: The crossroads of a great power

However, risk took a boost on the close of 2018 when news wires were reporting that the US administration was sending a mid-level US delegation to China in the week of January 7th to initiate the next round of trade negotiations.

USD/JPY levels

Valeria Bednarik, Chief Analyst at FXStreet explained that the pair has extended its decline below its daily 100 and 200 SMA, with this last around 111.10, painting a bearish picture for the upcoming weeks:

"Short-term technical readings support such view, as in the 4 hours chart, the 100 and 200 SMA maintain their bearish slopes far above the current level, as technical indicators hold near their daily lows within oversold levels. The 61.8% retracement of the yearly rally comes at 108.40, which has now become a probable bearish target."

FXstreet

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POPULAR NEWS
Yen Surges, Offshore Yuan Tumbles as Trade War Intensifies

The yen surged on Monday as investors flocked to safe-haven assets after a sharp re-escalation in the U.S.-China trade war, which whacked investor confidence and darkened the global economic outlook. The yuan also tumbled in offshore trade, weighed by expectations of a deeper slowdown in China as the world™s two-largest economies exchanged barbs over trade. The Swiss franc and gold, two assets sought during times of heightened risk aversion, shot up in early Asian trade. The yen surged to...

Tokyo's Nikkei Opens Down 2.6% as Yen Surges on Trade Fears

Tokyo's key Nikkei index plunged as much as 2.6 percent at the open on Monday as the yen surged against the dollar on escalating US-China trade tensions. The Nikkei 225 was down 2.56 percent, or 529.86 points, to 20,181.05 in early trade, while the broader Topix index lost 2.45 percent, or 36.78 points, to 1,465.47. Source : AFP

Asia Shares Sink, Bonds Surge as Trade Fears Mount

Asian shares were a sea of red on Monday as the latest salvo in the Sino-U.S. trade war shook confidence in the world economy and sent investors steaming to the safe harbors of sovereign bonds, gold and the Japanese yen. Yields on benchmark 10-year Treasury debt dropped to their lowest since mid-2016, while gold hit its highest since April 2013 as risk was shunned. The Chinese yuan also came under pressure, with the dollar quoted up at 7.1710 and markets braced for more intervention from...

Hong Kong Stocks Plunge More Than 3% at Open

Hong Kong stocks dived more than three percent in the first few minutes of business Monday after Donald Trump ramped up his trade row with China, while the city was hit by fresh violent protests over the weekend. The Hang Seng Index dived 3.27 percent, or 857.33 points, to 25,322.00 at the open. Source: AFP

Gold Touches Over Six-Year Peak as Risk-Off Appetite Stoked

Gold prices jumped to a fresh six-year high on Monday as the announcement of new tariffs in the escalating Sino-U.S. trade war sent equity markets tumbling, and investors rushing for safe-haven assets. Spot gold jumped 1.2% to $1,544 per ounce as of 0141 GMT, having earlier touched $1,554.56 an ounce, its highest since April 2013. U.S. gold futures were up 1.1% at $1,554.90 an ounce. On Friday, U.S. President Donald Trump announced a 5% additional duty on $550 billion in targeted Chinese...

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