Concerns continue to spread within the broad markets since this morning persisting till the opening of the US session, since investors are heading towards the low yielding assets after the announcement of the North Korean Leader’s death.
Asian markets faced huge losses during today’s session, as Kim Jong’s death created fears regarding the global growth, noting that the Japanese relations may be affected after his death. Furthermore, the European finance ministers didn’t reach till now to a final solution on the issue of deficit.
Still, markets are facing escalating challenges due to the debt crises in Euro Zone which became a plague spreading all over Europe, and Fitch warned again of possible downgrades for some European nations, but eyes still focused on the finance ministers’ meeting, hoping that they will announce an additional aid.
On the other hand, US stocks managed to rise, as some reports showed that the holiday season’s online sales jumped 15%, noting that investors’ hopes regarding the European ministers’ meeting helped US stocks to incline at the opening of today’s session.
The yen is trading around the 77.86 level. The AUD managed to trim some losses by the opening of US session trading around the 0.9957 level. The CHF is stronger today as demand on safe haven widened, trading around 0.9360 level.
As the USD was stronger and euro weaker commodities are mixed with gold loosing some of its gains and is trading as of this writing around the $1599.20 per ounce, while oil inclined trading around the $94.20 per barrel level.