Global Traders Turn Cautious as North Korea Tension Builds. Stocks Fall, Gold and Yen Jump

The North Korea geopolitical tensions will remain the talking point today. The U.S is celebrating its Labor Day holiday, but tomorrow will return to full trading. Asian equities have proven nervous this morning and the Yen has gotten stronger. Gold is range trading near highs.

No Rest for Investors Today, Robert Kaplan Speaking Tomorrow

U.S investors may be on holiday today, but they might not rest easy as geopolitical tensions via North Korea show no signs of relenting. The U.S Dollar has range traded early today against most major currencies. The Average Hourly Earnings data in the States on Friday proved disappointing and rattled forex. Tomorrow Federal Reserve member Robert Kaplan will be among a few U.S central bank speakers who are scheduled to make speeches.

North Korea Tensions Heightened, Risk Sentiment Being Watched

Japanese and Korean equity Indexes traded negatively today, as investors displayed signs of fatigue as the political crisis surrounding North Korea remains heightened. The Yen has proven strong as a safe-haven this morning and it will likely remain in focus the remainder of the week. China will see Services Purchasing Managers Index numbers early on Tuesday. Asian traders will be watched closely regarding their risk sentiment tomorrow.

Improved E.U. Investor Confidence, European Equities Cautious

Spanish Unemployment Change numbers today produced a very poor result, but the European Union’s Sentix Investor Confidence outcome was positive. Construction PMI figures from the U.K came in below their estimate. European equities have started the day in negative territory and traders are likely to remain cautious with the absence of American investors. The Euro is trading around the 1.19 mark against the U.S Dollar.

Gold Settles into High Range, Sudden Bursts of Volatility Expected

Gold has settled into a tight range the past few hours but remains near important short-term resistance after making a serious push upwards on Friday. The precious metal is near 1335.00 U.S Dollars an ounce and should be expected to have sudden bursts of volatility today.

U.K. Sales Data Later, Australian Services Figures

A Retail Sales Monitor reading will be released for the U.K later today at 23:01 GMT.

23:01 PM GMT U.K., BRC Retail Sales Monitor

23:30 PM GMT Australia, AIG Services Index

Yaron Mazor is a senior analyst at SuperTraderTV.

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