tyb for the tight snipe
Asian shares at four-month low on deepening U.S.-China trade war
see also:
U.S.-Listed Chinese Stocks Tumble at Fastest Pace Since 2008
https://www.bloomberg.com//news/articles/2019-05-24/u-s-listed-chinese-stocks-tumble-at-fastest-pace-since-2008?srnd=markets-vp
Japan's key inflation gauge hits three-year high, offers little respite for BOJ
https://www.reuters.com/article/us-japan-economy-inflation/japans-key-inflation-gauge-hits-three-year-high-offers-little-respite-for-boj-idUSKCN1ST2VO?il=0
Asian shares at four-month low on deepening U.S.-China trade war
Tokyo (Reuters) - Asian shares hobbled near four-month lows on Friday and crude oil plunged on worries the U.S.-China trade spat was developing into a more entrenched strategic dispute between the world’s two largest economies, pushing investors to safe-haven assets.
MSCI’s broadest index of Asia-Pacific shares outside Japan stood flat, hovering near its fresh four-month low marked on Thursday, and was on track for a third straight weekly loss, down 0.9% so far on the week.
Japan’s Nikkei average dropped 0.6%.
As flight-to-safety plays dominated the global markets, the benchmark 10-year U.S. Treasury note yield hit 2.292%, the lowest level since mid-October, 2017, with the key parts of the yield curve inverted.
Chotaro Morita, chief fixed income strategist at SMBC Nikko Securities said big falls in U.S. manufacturing survey appear to reflect expectations of a breakdown in the U.S-China trade talks.
“In the last couple of years, the PMI has had a very small gap with hard data, such as industrial output. So if that holds true this time, we could see factory production plunging into negative levels (compared to a year ago).”
All major PMI's are at lows right now-some of this is flawed based on out-dated data collection metrics too.
The greenback at one point hit its highest level in two years against a basket of six major currencies and the euro slumped to levels last seen in May 2017 as a recovery in euro zone business activity was weaker than expected.
The dollar hit a high of 98.371 against a basket of six major currencies overnight. The index was last quoted at 97.880, unchanged on the day. The euro fetched $1.1182.
In commodity markets, oil prices plunged on Thursday, with WTI crude losing nearly 6% as trade tensions dampened the demand outlook, putting the crude benchmarks on course for their biggest daily and weekly falls in six months.
In early Asian trade, U.S. crude rebounded 0.6% to $58.25 a barrel, after Thursday’s 5.7% fall that too it to the lowest in two months. Brent crude futures also bounced back 0.4% to $68.05 per barrel, after falling 4.6% in the previous session.
See Cap#3-the highlighted area above current trade is where it "should" get to based on technicals. Dropped 5% today so it could retrace moar.
Cap#4 is US Futures at present.
https://www.reuters.com/article/us-global-markets/asian-shares-at-four-month-low-on-deepening-u-s-china-trade-war-idUSKCN1SU035?il=0
https://www.cnbc.com/asia-markets/
https://www.dailyfx.com/crude-oil
https://www.bloomberg.com/markets/stocks/futures
>Foreign assist underway w/ DOJ.