Analysts at ANZ explained that risk sentiment was shaky overnight, with trade tensions gathering steam.
"Global equities fell with declines in Europe around 1½% and US stocks off about 0.5%. Commodity prices were hit, with the CRB index down 3%. Treasury yields fell while a policy rate hike by the Bank of Canada to 1.5% saw the Canadian yield curve flatten."
"The US dollar firmed against all in the G10 with AUD and NZD hit the hardest. Emerging market currencies were also on the back foot with a notable depreciation in the renminbi, with USD/CNH reaching 6.72 level (up 1%). Oil fell sharply despite stronger inventories, driven by the stronger dollar, reports that Libya is reopening ports, trade fears, and the possibility of the US allowing some country exemptions to Iran’s oil sanction. WTI is down over 4%% and Brent is close to 6% lower. Gold dropped 1.0%."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.