Safe-Havens Rise
North Korea’s successful launch of missiles with intercontinental range sent safe-haven assets higher. The Japanese yen shot up 0.1% against the US dollar, while gold also added 0.1% to its value.
The Aussie Dollar Rebounds
The Aussie dollar has recovered slightly, up 0.2% after falling 0.7% on Tuesday. The currency tumbled after he Reserve Bank of Australia’s decision to maintain a neutral policy stance.
Oil Is Muted
Oil prices are flat as investors tussle between which sentiment to follow; rising inventories or the North Korean missile threat.
Oil could find direction after tomorrow’s US inventory release.
Coming Up This Week
US President Trump is set to meet with his Chinese counterpart Xi Jingping at this week’s Group of 20 summit, starting on Friday. Markets will react to the rhetoric of the conference.
Friday’s session will be a busy one; the non-farm payrolls release will cause a stir in markets. Expectations are at 175K, if the actual is less investors could turn bearish. The dollar is in a fragile state and is very sensitive to negative hard data right now however is less sensitive to positive readings.