Japanese Yen Slips as Traders Consider Import/Export Quandry
We have seen a rebound in USD/JPY towards ¥107.36 as reports have suggested that ¥110 is as weak as the yen should go before imported energy costs outweigh the benefit to exporters.
The euro is also losing out to the bullish dollar, as EUR/USD targets key support around $1.2661, though sterling is holding up slightly better.
Stocks Dip as Chinese Growth Slows to 5 Year Low
With the Chinese economy expanding at its slowest rate since 2008, stock market indices are off slightly, with the DAX already down by 1% and the FTSE near support at 6216.
Gold has benefited from weakness in the dollar and delayed US rate hike speculation, with resistance around the 55-period MA.
Equity Markets Slide as Volatility Looks to Return
With US treasuries showing similar movements to last week, stocks are down as traders brace themselves for further volatility.
ARM Holdings has reported weak figures but the strong update from Apple has lifted both shares.
The tragic news of the death of Total‘s CEO in a Moscow plane crash may lead to some destabilisation of Russian markets over safety concerns.