Article / 11 August 2017 at 11:34 GMT

Mid-session Europe: Risk aversion hits stocks across the board

Saxo Markets
  • 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
Gold and yen
 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.

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Mid-session Europe: August 11, 2017


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