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SP500 and Nikkei plunged under key level, while JPY broke records

SP plunge under 100 SMA

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The SP500 dropped to a key level following Wall Street sellouts driven by a number of factors. The main concern for investors is that Trump has signed the executive memorandum of levy on the import of Chinese goods, which may come into full force in 45 days. The index plunged by 2.5% crossing the SMA 100 from top to bottom, while JPY for the first time reached 105 yen per dollar by 2016. The strong impulse at JPY confirms the concerns surrounding the Trump Trade War and the need for hedging tools.

At the other end of the world, in Japan, the Nikkei 225 collapsed by 1.5% at the beginning of the session and went below 200SMA.

Source: Bloomberg Pro Terminal


 Trader Petar Milanov

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