Article / 11 August 2017 at 11:34 GMT

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

Saxo Markets
Denmark
  • 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.


Download document

Mid-session Europe: August 11, 2017

Relevant articles for you

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Tradingfloor.com and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Tradingfloor.com is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.com or as a result of the use of the Tradingfloor.com. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail