A rough start to the new week for Japanese stocks
The market mood here is largely reflective of the softer touch in US futures, which are down by around 1.6% currently today. Just take note that most markets remain closed – in Europe as well – so liquidity conditions are still rather thin and lackluster today.
Coronavirus developments have been rather mixed over the weekend with some improving trends in certain hot spots but the verdict is still that countries are leaning towards extending lockdown measures as an extra precaution.
French president Macron even said that EU external borders may be closed until September, fearing that opening up too early may risk a second wave of virus infections.
In the currencies space, not much is happening besides yen strength so far today.
USD/JPY is down by nearly 60 pips on the day to 107.88 currently.