Asia risk-off in full swing as Oil slips, a batch of US data eyed

By FXStreet FXStreet (Mumbai) – Risk-off sentiment returned to markets in Asia this Friday after the oil prices resumed the dominant bear trend, rattling investors’ confidence once again. The yen was a clear winner amongst the G10 currencies, while the Antipodes dives towards multi-month lows.

Key headlines in Asia

PBOC sets USD/CNY at 6.5637 vs 6.5616

Oil: Sell-off resumes as Iranian supply prospects loom

QQE policy has a risk for BOJ’s finances – BOJ’s Kuroda

Dominating themes in Asia – centered on JPY, AUD and NZD

Risk-sentiment turned negative once again this Friday, following a rebound in risk-on trades during the last US session. Safe-havens are back in demand on reducing appetite for risk amid negative equities and falling oil prices. Investors flock to safety assets such as the yen, euro, CHF and gold in times of market unrest and panic. As a result, the dollar-yen pair continues to benefit from risk-averse conditions, now breaking lower near 117.70, after failing to sustain above 118 handle. While EUR/USD also extends its post-ECB minutes recovery and now looks to test 1.09 handle as the demand for low-yielding currencies rise to fund the investments in higher-yielding/ risk assets.

The riskier/ higher yielding currencies such as the AUD, NZD, …read more

Source:: FX Street