(MENAFN- DailyFX) Talking Points:
NZ, Aussie Dollars down as Mueller subpoenas Trump campaign Yen leads funding currencies higher as sentiment sours in G10 FX Quiet data docket hints risk trends to prevail into the week-end A risk-off mood seemed to prevail in most of the G10 FX space in Asia Pacific trade, with the sentiment-linked Australian and New Zealand Dollars falling. The traded broadly higherat the opposite end of the spectrum, tellingly moving inversely of its commodity-bloc counterparts.
The likewise advanced, displaying its once again. The too was on the upswing, driving home the point that funding currencies were broadly in demand while yield-seeking alternatives suffered.
The sour mood seemed to flow from a Wall Street Journal article that revealed that Special Counsel Robert Mueller , hinting that his investigation into its possible collusion with Russia is gaining steam and probing into the President's inner circle.
Investors' negative interpretation of this development probably reflects worries about political instability in the world's largest economy as well as fading hopes for expansionary fiscal policy. Mr Trump's apparent taste for deficit-financed stimulus was cheered by markets in the aftermath of the 2016 election.
Looking ahead, a lackluster offering on the data docket in European and US hours seems likely to keep sentiment trends in control. Futures tracking major European and US equity benchmarks are pointing lower to suggest risk-off dynamics may carry through into the week-end.
Want to learn how to include economic news-flow into your trading strategy? !
Asia Session
European Session
** All times listed in GMT. See the .
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
To receive Ilya's analysis directly via email, please
Contact and follow Ilya on Twitter:
MENAFN1711201700760000ID1096105906
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.