North Korea Tensions Defuse

NORTH KOREA: North Korea said Tuesday leader Kim Jong Un was briefed on his military’s plans to launch missiles into waters near Guam. But the comments also appeared to signal a path to defuse the deepening crisis with Washington, holding out the possibility that friction could ease if the U.S. made some gesture that Pyongyang considered a move to back away from previous “extremely dangerous reckless actions.”

WALL STREET: The S&P 500 jumped 24.52 points, or 1 percent, to 2,465.84. The Dow Jones industrial average gained 135.39 points, or 0.6 percent, to 21,993.71. The Nasdaq composite added 83.68 points, or 1.3 percent, to 6,340.23.

THE QUOTE: “The markets continue to recover from last week’s disorder as U.S. equities orchestrated a splendid showing recouping some of the sharp losses from last Friday, as investor confidence returns with the de-escalation of North Korea tension,” says Stephen Innes, head of trading for Asia at OANDA.

 ENERGY: U.S. crude oil added 8 cents to $47.67 a barrel. It lost $1.23 to $47.59 a barrel in New York Monday. Brent crude, the international standard, rose 13 cents to $50.86 a barrel in London.

CURRENCIES: The dollar rose to 110.19 yen from 109.57 yen late Monday in Asia. The euro fell to $1.1784 from $1.1816.

The Washington Post

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Stephen Innes

Stephen Innes

Senior Currency Trader and Analyst at OANDA
Stephen has over 25 years of experience in the financial markets and specializes in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is currently based in Singapore as a Senior Currency Trader and Analyst with OANDA, focusing on the movement of the Aussie Dollar and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Prior to joining OANDA, he worked with organizations like Cambridge Mercantile, Nat West, Garvin Guy Butler, 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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