In another demonstration of military might, N. Korea fires yet another unidentified projectile towards the East Sea.

The US Defense Department has been warning that North Korea may resume long-range ballistic missile tests, but was expecting more in the year 2022.

The Defense Intelligence Agency, an intelligence arm of the US Defense Department, on Friday released a report that examined the current situation of North Korea's military power, including its nuclear weapons and missiles.

The report explained, "North Korean leaders view nuclear arms as critical to regime survival," and "It is possible we could see a test of a long-range missile over the next year."

Market implications are one of risk-off but this is custom of N.Korea and is of no surprise to traders. 

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