More Trump Dump

(Bloomberg) — South Korea’s stocks and currency fell after President Donald Trump warned North Korea that if it “does anything” to the U.S. or its allies “things will happen to them like they never thought possible.”

South Korea will strengthen monitoring of financial markets and economy, and take action based on a contingency plan in case of any unusual movements, the Finance Ministry said in a statement after meeting with other ministries, Bank of Korea and financial regulators.

“The equity markets are in risk reduction mode as investors move to secure liquidity with speculators exacerbating moves through tactical shorts,” Stephen Innes, head of trading at for Asia-Pacific at Oanda Corp. in Singapore, said in a note Friday. “Considering the limited steps in forex, the signals suggest we’re in the midst of a global risk asset consolidation as opposed to a deeper retreat, however.”

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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