USD and JPY lead the way
Stocks are trading at session lows now with European equities lower and US equity futures also being dragged after we saw Tencent's abysmal earnings report earlier. Tech shares are lower because of that.
But there's also pressure on European stocks as metals continue to fall further on the day. Copper prices are suffering and that is weighing on the Eurozone basic resources index - which is down to 8-months lows.
As equities are weighed lower, it is providing some tailwind for the yen to move higher on the day - as warned in the Tencent post earlier here.
The dollar in turn is also trading to session highs across the board with EUR/USD down to a low of 1.1311 and USD/CAD up to a high of 1.3105. USD/JPY though has moved to session lows of 111.13 currently.
