Title - Trade Wars Escalate Here's How
Created 10/09/2019 at 08:20AM
NZD and EUR are the top G10 FX gainers today, up 0.25% and 0.23% vs the dollar while JPY and USD are the top losers. The U.S. dollar was trading slightly weaker and hopes of a breakthrough in U.S-China trade talks also dived with the U.S. banning Chinese companies and imposing visa restrictions on Chinese officials over the issue of Muslim minorities. Yuan traded at a one-month low as trade tensions rose ahead of key Sino-U.S. trade talks.
In the Asian equities space, the Nikkei 225 closed down 0.61% at 21,456.38 and Hang Seng closed -0.62% at 25732.38. The European equities were trading firm with the FTSE up +0.35% at 7168.2, DAX up +0.53% at 12033.08, and CAC up +0.31% at 5473.76.
In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.5425% and the Bund 10-year yield trading at -0.575%. In the energy space, the Brent (front month) is trading down (-0.03%) for the day at $58.22.
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