XE Market Analysis: Europe – May 09, 2019

The Yen continued to rally as risk aversion coursed through global markets. President Trump repeated that China “broke the deal” and would pay for it, with the U.S. set to raise tariffs to 25% from 10% on $200 billion worth of Chinese imports at 12:01 A.M. ET on Friday. China has threatened to retaliate, though Chinese Vice Premier Liu will be holding talks in Washington today and tomorrow. Stock markets in Asia dove, pushing the MSCI Asia-Pacific (ex-Japan) index to a near two-month low. S&P 500 futures were showing a decline of 0.8%, as of the early London A.M. session.