North Korea fired a ballistic missile over Japan’s northern Hokkaido island into the sea earlier today, thus provocating a sharp reaction from Prime Minister Shinzo Abe who called this as an “unprecedented” threat to his country. The test is one of the most provocative ever from the reclusive state as this is the first time it has fired a ballistic weapon over Japan. This came just after the “U.S. and South Korean forces conduct annual military drills on the peninsula, to which North Korea strenuously objects.” The missile reached a maximum altitude of about 550km, lower than the previous North Korean tests. This caused a major drop in Asian shares in today’s trade.
source:BBC News, Reuters
U.S. Conference Board Consumer Confidence for the month of August later during the day at 14:00 GMT today. The U.S. dollar fell to a four-month low against the Japanese yen, while the Australian and New Zealand dollars dropped against the U.S. counterpart after the North Korean missile test that passed over Japan. The greenback traded at 108.81 yen earlier on Tuesday, while the AUD/USD fell by 0.55 percent to $0.7924, off previous session highs. The U.S., Japan and South Korea asked for a United Nations Security Council meeting, following the missile test.
Storm Harvey deteriorates further with catastrophic flooding in the U.S. state of Texas and it is expected to worsen in the coming days as waters rise. Forecasters state that the total rainfall could nearly double later this week. This calamity caused refineries to shut down and pushed the U.S. gasoline prices prices to rise. The U.S. West Texas Intermediate rose by 0.5 percent to $46.80 a barrel and the international brent crude futures edged up to $52.10 per barrel.
The graph of this currency pair depicts much fluctuation Monday’s session as markets were still digesting over Draghi’s speech at the Jackson Hole and the European currency traded lower. Today, the EUR/GBP pair started tumbling from the very beginning of its session at 00:00 UTC, dragged by bearish candles till it reached the 0.92491 around 03:00 UTC. It is expected to fall further through today, use Limits Trading for this one.
On Monday’s early trade session, the Wall Street index was seen following a downtrend but it gained momentum later around 07:00 UTC and successfully reached a high level of 2447.9 points by 12:00 UTC. Stock futures edged lower in late Monday trade after North Korea fired a missile over Japan. In today’s session, it is seen trading with much volatility on the market and it could maintain the same trend, use the TradeReplica tool for this one.
Last Friday, the asset reached a high level of 93.34 on the market, but this was immediately dragged by bearish candles. The U.S. dollar index tumbled around 12:00 UTC as it traded at the 92.49 level yesterday and this was dragged by bearish candles to reach the 92.21 level by 18:00 UTC. Today, it started its session on a bullish candle at 00:00 UTC but it is seen trading below the 92.30 level and it could fall through today, keep an eye.
Things to watch on the market
The Hang Seng index and the Shanghai Composite are both available for trade with the Classic Binary Options.
Consider trading on currency pairs such as the EUR/USD, USD/JPY, NZD/USD and the AUD/USD in regards to today’s market condition.
Crude futures can be traded once they are made available on the the trading platform. Also consider trading on Gold as the commodity broke its critical 1300 level yesterday and is now trading around $1,317 an ounce.