Gold and other safe haven assets including the Japanese yen and the Swiss franc maintained the gains as investors flocked to the safe haven assets. Rising tensions between the United States and North Korea have kept the investor risk appetite in check. After North Korea had dismissed the warnings from Trump, the president said that his previous statement might not have been enough.
The US equity markets understandably fell with the Dow Jones losing 204.69 points while the CBOE volatility index spiked, signaling caution in the equity markets.
On the economic front, the UK’s manufacturing and industrial data was a mixed bag. Most of the gains came from the oil and gas industry in an otherwise flat print on manufacturing.
Looking ahead, the US consumer price index data will be coming out today. Forecasts point to an uptick in inflation, which could help to boost the sentiment in the U.S. dollar.
