11 August 2017 at 11:34 GMT
- Risk-off sentiment continues, and all major European equity indices are in the red
- Energy, tech and basic materials shares lead the dive
- Flight to safe havens continues
- Gold remains bid, but rally pauses ahead of key resistance at $1,295/oz
- USDJPY approaches key 108.80 level
This week's flight to safety has driven up gold and
the Japanese yen. Image: Shutterstock
By the Global Sales Trading Team
- The risk-off selloff of European stocks continued on Friday, with no sector unhurt. Energy, tech and basic materials shares are leading the dive.
- Gold remains bid, but rally pauses ahead of key resistance at $1,295/oz, with selling appetite limited by the heightened geopolitical worries over a potential conflict between the US and North Korea.
- Downtrend in USDJPY persists, with the pair approaching a key level of 108.80.
- USD losing some gains against GBP and EUR, and commodity currencies weaker on higher risk mode.
- German inflation data in line with expectations, CPI +0.4% m/m
Please click on the attached PDF for the Saxo Bank Global Sales Team's overview of the mid-session movements seen in forex, equity, FX option, commodity, and bond markets.