The JPY turned sharply higher after investors flock back into “safe heavens” following the rout in global equity markets and the run out of riskier sectors and markets. The JPY was higher versus majors signaling another leg up following yesterday pullback, up more than 1.5% versus commodities economies. Bond yields showed a rare inversion curve where short term bonds are paying more than long term bonds, a signal that usually means recession or at least a red flag for the economy near term. After the aggressive move higher Tuesday on the tariff delays, yesterday global equity markets reacted exactly the opposite, moving out of the Nasdaq leaders and DAX autos into cash and “safe heavens. Gold was again the other beneficiary of the situation, trading above the $1,500 level and closing at $1,517 per ounce. Oil investors suffered a big red day, down 3.3% following the higher than expected US inventories numbers, up 1.6 million barrels this week versus an expected decrease of 2.8 million barrels. Global growth concerns and the selloff in global equities markets contributed to the big move lower yesterday in prices which closed at $54.82 per barrel.


UK Retail Sales at 9:30 am, US Retail Sales and Philly Manufacturing index at 1:30 pm are the important news on the agenda Thursday. (all times GMT).

Global Markets 24 hours wrap-up
1 YEAR-5.51%-4.67%-1.02%-2.1%-8.1%11.25%
Swing report
USDMXN19.660.8  19.6trade idea
NASDAQ77548-52714/87720stopped out
OIL52.6882,4169/855.78stopped out

Oil trade turned a $2,400 winner before pullback on the Inventories numbers yesterday

NASDAQ futures and GOLD mirror trading over the past 24 hours

USDMXN long 19.62 bull flag trade idea posted

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