Markets are switching to a risk off mood
- Germany DAX -1.0%
- US 10-year yields down 5.4 bps to 1.881%
- Gold up 0.6% to $1,465.25
- Brent down 1.1% to $61.38
- USD/CHF 0.9900
- USD/JPY 108.92
Equities and bonds are hinting at risk off flows on the session and we're starting to see more of a reaction in the currencies space as well.
The yen is starting to gain a bit of traction as yields are falling rather quickly, with USD/JPY now testing the 100-hour MA @ 108.91.
With European equities also softer, the franc is seeing some decent strength on the session while the loonie is dragged lower alongside weaker oil prices.
The continued stall in US-China trade talks is breeding contempt in markets and the situation in Hong Kong isn't exactly helping with the risk mood today either.
