(MENAFN- DailyFX) Talking Points:
Yen gains, commodity currencies drop on renewed trade war jitters unlikely to find follow-through in revised Eurozone GDP data Stock index futures down, hinting risk aversion is likely to continue The outperformed in Asia Pacific hours as , sending regional stocks lower and offering a lift to the standby anti-risk currency. The similarly-minded Swiss Franc also rose. Sentiment-geared commodity bloc currencies bore the brunt of selling pressure.
The saw losses amplified by . The competed vigorously for the dubious honor of the day's weakest G10 FX unit. Sheer proximity to the US seems to have become a liability as the tone of the Trump administration turns increasingly protectionist.
Looking ahead, the European data docket offers little that might inspire fireworks. The final revision of fourth-quarter Eurozone GDP figures will cross the wires. Absent a major deviation from earlier estimates, the Euro seems likely to look past the outcome, focusing on the instead.
Absent a potent-enough driver from scheduled event risk, broadly based sentiment trends will probably remain at the forefront. Futures tracking the benchmark stock index are pointing sharply lower, hinting that a 'risk-off mood is likely to prevail as day wears on.
Investors' heightened headline sensitivity ought to be kept in mind however. A mere comment from US House of Representatives Speaker Paul Ryan opposing Trump-back tariffs was apparently sufficient to yesterday. Something similar may yet transpire in coming hours.
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