Market News

Gold held steady on Wednesday as heightened geopolitical risks over North Korea and concerns about low inflation in the United States that could delay another rate hike, lent some support.

Asian stocks on Wednesday tracked Wall Street’s slide overnight while the dollar was on the defensive with tensions in the Korean Peninsula showing few signs of abating.

Several market themes stayed in play as New York session traders returned to their desks after the long weekend, but U.S. stocks and the dollar were on the losing end.

U.S. Treasury yields fell on Tuesday as worries about further nuclear tests from North Korea that stoked tensions with the United States.

Lots of themes were playing out during the session, but the ones that stood out were pound and Kiwi strength, as well as the Swissy’s severe weakness. 

The euro drifted in a narrow range on Tuesday as simmering geopolitical tensions put investors off adding big bets before a European Central Bank meeting this week when policymakers might voice some concerns about the single currency’s strength.

Business activity in the euro zone stayed robust in August as it outpaced Britain, where an economy increasingly bogged down by Brexit worries lost momentum, surveys showed on Tuesday.

Now that the RBA has said its piece, it’s time to pay attention to Bank of Canada. Will it pull a back-to-back and raise its rates again?

South Korea said on Tuesday an agreement with the United States to scrap a weight limit on its warheads would help it respond to North Korea’s nuclear and missile threat.

Australia’s economy likely rebounded sharply last quarter as exports and public spending proved surprisingly upbeat, an outcome that would cheer the country’s central bank which left interest rates at record lows on Tuesday.

A GDP-related report boosted the Aussie across the board while North Korea jitters weighed on the dollar against low-yielding currencies.

Chinese President Xi Jinping told an international summit on Tuesday that although the global economy had improved, risk factors had also increased.

Large speculators became even more bearish on USD. However, positioning activity was mixed, with USD losing ground to AUD while taking ground mainly from GBP.

Hurricane Irma, barreling toward the Caribbean and the southern United States, was upgraded to a powerful Category 4 storm on Monday as islands in its path braced for a possible onslaught.

Gold prices on Tuesday edged away from their highest in nearly a year as the dollar steadied.

The dollar steadied on Tuesday after investors took in the latest headlines on tensions in the Korean Peninsula before turning their focus towards U.S. monetary and fiscal policies.

Dollar pairs spent the Labor Day long weekend chillin’ like ice cream fillin’ even as the U.S. economy is facing a couple of potential challenges.

The euro clung to most of its recent gains on Monday while the dollar struggled against a broad swathe of currencies and its trade-weighted basket approached a 2-1/2 year low.

Gold prices jumped to their highest in nearly a year on Monday as escalating tensions between North Korea and the United States and a weaker dollar persuaded investors to take refuge in assets perceived to be safe.

CHF outperformed while JPY was the worst-performing currency of the session. Safe havens at the opposite extremes? What’s up with that weirdness, yo?