XE Market Analysis: North America – May 15, 2019

The London AM session went from risk-on to risk-off, the later phase of which saw the Yen and other safe havens rise while currencies and assets with high-beta performance characteristics came under pressure. A 16-year low in retail sales in China, alongside a moderation in industrial production data, helped rekindle risk aversion in global markets. S&P 500 futures went negative, giving up a near 0.5% gain, and were showing a 0.2% decline heading into the Wall Street open. The pan-Europe Stoxx 600 index, after opening higher, dropped to a 0.2% loss. The 10-year U.S.