Check out today’s market highlights!
This article is originally referred from IronFX News.
EU leaders near migration deal
- EU leaders seem to be near a new deal regarding the migration issue in Europe.
- The deal could include increased security, holding centers, speeding up the process for asylum and overhauling rules for distribution.
- It remains to be seen if the deal will be able to save the stability of the German government.
- Deep division remains though, between more liberals on the issue like Spain and France and conservatives like Hungary.
- The EUR jumped on the news and we could see it strengthening even further upon further positive headlines.
JPY weakens against major counterparts
- A weakening of JPY against a number of it’s main counterparts was evident during today’s Asian morning.
- Analysts consider the drop to be caused by the rapid depreciation of the Chinese Yuan while Japanese and S. Korean markets drop.
- On the contrary, Chinese markets such as Hong Kong and Shanghai climbed on the final day of the quarter.
- Please note that even today’s positive financial data releases (such as the unemployment rate) were unable to support the Yen.
- If there is further depreciation of the Yuan we could see the Yen weakening, however Chinese officials may try to stop the Yuan drop.
Original Source: IronFX News