- The USD / JPY climbed to handle 109 as the COVID-19 seized Japan.
- The future US S & P500 emini rose by around 3% and weighed on the yen.
The USD / JPY is trading at 108.99 at the time of writing, + 0.55% after going from a low of 108.34 to a high of 108.99. The US dollar is firm in Asia today, although it is hovering around 100.85 with a risky market while the yen is falling with Japan going into a state of emergency.
The Japanese yen has been sold at all levels and is likely to fight as the Japanese COVID-19 cases increase. The Nikkei Asian Review reported that Japanese Prime Minister Shinzo Abe decided on Monday to declare a coronavirus emergency as new cases in the capital increased at a record rate. “The government will hold an informal meeting of an expert group and begin to prepare the declaration.”
Risk and Japanese sike in COVID-19 weighs on the yen
At the same time, we saw stocks extend their positive movement today, with US S & P500 E-Mini futures up around 3% earlier this week. The weekend news showed some glimmer of hope for COVID-19 and the bailiff for today’s US task force reassured American citizens that the panel’s optimists believe there is a light at the end of the tunnel and that the peak is near. Presser titles can be seen here: Trump: we hope to see coronavirus stabilization in the hottest places.
A focus on petroleum
Chart of the week: WTI takes the lead and takes a 61.8% retracement
Meanwhile, there is a concentrated oil that rose on Friday, as US President Donald Trump’s tweet of a 10 Mbp drop was likely and “perhaps much more”, as well as confirmation that a meeting of the ‘OPEC + taking place this week has stimulated sentiment. The WTI closed up $ 6.8 / 32%, although, as it was released today, – $ 2.20 at the time of writing.