JPY remains on the top side ahead of European Markets open

Risk sentiment remains tilted to the side of caution, with Asian shares generally down, but yields on government securities remain weaker and push the yen up for the moment. The yield on ten-year government securities is close to the bottom of the session down 2.6 bps to 1.948% on a daily basis.

The other major currencies remain stable and with little change against the dollar, as narrow ranges continue. EUR / USD stands in 11 pips choppers, with a large volume of options out of 1.1290-00, which will most likely also influence the behavior of the couple today.

In addition, gold is the other major winner, as well as other raw materials benefiting from global economic concerns as well as renewed focus on central banks around the world. The latest news on this rhetoric provided BoE President Mark Carney, who suggested that the central bank was worried about recent global developments.

Looking at the session ahead, the focus remains on the risk and we will see if there will be surprises from the euro that will further fuel fear. Also, look at titles with the words "trade war" as the focus begins to move slightly to US employment data this Friday

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