Trump canceled a planned summit with Kim, Wall Street Worries
On Thursday White house sent a letter to Norths Korea Leader Kim Jong Un to cancel the upcoming summit, the reason was the “tremendous anger and open hostility” regards to the recent statements from Pyongyang.
Trump stated that this is a major setback for both North Korea and the world.
According to NEW YORK (Reuters) on Thursday after the annulment, the U.S. stocks had a minor depreciation, although Netflix (O:NFLX) pushed its market value to a record.
“The Dow Jones Industrial Average fell about 75 points, to 24,811.76, the S&P 500 lost 5.53 points, or 0.20 percent, to 2,727.76 and the Nasdaq Composite dropped 1.53 points, or 0.02 percent, to 7,424.43.”
According to TOKYO (Reuters) the save heaven Yen had notable slide down stepping back from a 2 weeks high versus US Dollar on Friday after the statement of North Korea that they are willing to resolve any issues with the US.
The Smart money acted quickly in response to heightened worries over global politics and they locked their profits to avoid worries over the long weekend ahead.
After the comments from North Korean’s Vice Foreign Minister Kim Kye Gwan the yen fell about 0.32% to 109.60 yen in early Asian trade.
The dollar index (DXY), which measures the strength against a basket of six other currencies, was up 0.1 percent at 93.844.
In Australia, the AUD/USD pair lost about 0.10% at 0.7566. and the the USD/CNY pair gained almost 0.10% to trade at 6.3857.
USDJPY Technical View
Based on the Ichimocu system it can be observed that the recent kumo break out was confirmed after the chikou span broke the cloud.
The lines and the cloud seem to be in bullish formation.
To be able to start looking for any potential bullish signals we would like to see the price to break above the 2 lines.
About the Author:
Marios Athinodorou is TeleTrade’s market analyst and commentator. Apart from being an experienced trader, Marios is an advanced technical analyst and is interested in trading psychology. He has 7 years of trading expertise in Forex and CFDs, providing insights to share with all kinds of traders, from beginners to experts. Among others, Marios is delivering weekly trading webinars. Sign up for upcoming webinars, here.
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