Crude Oil Prices Eye Weekend OPEC Meet, Asia Stocks May Boost JPY

Asia Pacific Market Open – Japanese Yen, British Pound, Brexit, SP 500, Crude Oil, OPEC

  • Anti-risk Japanese Yen gained as Asia, Europe and US stocks tumbled. US Dollar appreciated
  • Brexit woes sent the British Pound depreciating, crude oil prices await weekend OPEC meeting
  • SP 500 following through on bearish reversal warning, Asia Pacific stocks may weaken next

We just released our 4Q forecasts for currencies like the US Dollar in the DailyFX Trading Guides page

The anti-risk Japanese Yen appreciated across the board on Friday as stocks declined in Asia, Europe and in the US. This followed Thursday’s Fed rate decision where the central bank stoked December rate hike bets, boosting the US Dollar. The SP 500 dropped an early warning sign that Friday’s session was about to take a turn for the worst.

Indeed that was the case, the SP 500 ended the day about 0.92 percent lower. The NASDAQ Composite fared worse, tumbling about 1.65%, weighed down by tech shares. US government bond prices rose as yields fell, signaling a flight to safety reminiscent of what we saw back in October.

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