16 October 2018
ASEAN Morning Bytes

General market tone: risk-off

The tension between the Middle East and the West begun to brew, sparking risk-off tone and knocking down stock markets and boosting oil prices.

International theme: World markets monitor developments on US and Saudi relations

  • Risk-off tone escalated overnight with brewing tension between the West and the Middle East.  US data showed mixed trends with the print disappointing markets on the headline print but the so-called core retail sales bested market expectations.
Reading time around 30 seconds

Good MornING Asia - 16 October 2018

By default, the JPY is outperforming other majors. With the S&P 500 back below the 200-day moving average, the mood of investors looks solemn. The USD looks troubled as a result, but the EUR seems unable to break higher, due to its own local problems. Even the GBP seems able to hold its ground against the USD despite Brexit issues (though not against the EUR)

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