North Korea fired mid-range missile on Sunday, puts Hawaii and Alaska within range

Ivan Delgado Independent Analyst

Over the weekend, North Korea fired a mid-range missile near Pyongyang on Sunday, with the Korean Central News Agency (KCNA) noting that the current capabilities put Hawaii and Alaska within range.

The missile flew about 500 kilometres and reached an altitude of about 560 kilometres, and was believed to have landed in water off North Korea's east coast.

As reported by Reuters: "A South Korean military official said the missile appeared to be an upgraded, extended-range version of the North's solid-fuel submarine-launched missile. The missile fired a week ago flew was liquid-fueled, and flew further."

The latest news from North Korea have virtually had no market reaction. As a reminder, last week's USD/JPY selling flows on the open after the previous launch saw the pair bounce back almost immediately, On top of that, the main focus for USD/JPY this week is likely to be a public testimony before a Senate Committee next Wednesday by former CIA Director James Comey, aimed to shed a light on whether or not US President Trump was trying to influence him over an ongoing investigation into Russia and its possible links with Trump's campaign.

Author

Ivan Delgado

Independent Analyst

Established in the Asian continent since 2009, Ivan studied a degree in Business at the University Pompeu Fabra (Barcelona), while also earning a postgraduate degree in Business Administration.

EUR/USD stays depressed near 1.1850 ahead of German ZEW

EUR/USD remains in the red near 1.1850 in the European session on Tuesday. A broad US Dollar bullish consolidation combined with a softer risk tone keep the pair undermined ahead of the German ZEW sentiment survey.

GBP/USD drops below 1.3600 after weak UK jobs report

GBP/USD is seeing a fresh selling wave, giving up the 1.3600 level in Tuesday's European trading. The United Kingdom employment data showed worsening labor market conditions, bolstering bets for a BoE interest rate cut next month. This narrative is weighing heavily on the Pound Sterling.

Gold pares intraday losses; keeps the red above $4,900 amid receding safe-haven demand

Gold (XAU/USD) attracts some follow-through selling for the second straight day and dives to over a one-week low, around the $4,858 area, heading into the European session on Tuesday.

Pi Network rallies ahead of its first anniversary

Pi Network trades above $0.1800 at the time of writing on Tuesday, recording nearly 5% gains so far. On-chain data indicate that large wallet investors, commonly known as whales, have accumulated approximately 4 million PI tokens over the last 24 hours.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Stellar mixed sentiment caps recovery

Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.