Safe-Havens Rise As North Korean Concerns Mount

Main Market Movers

Strong economic data stemming from the eurozone supported the euro, propelling the single currency 0.2% higher against a basket of its peers. The rally comes before this weekend’s German elections, where Angela Merkle looks set to take her fourth term in office.

European stocks are climbing higher as polls suggest Merkle will be victorious this weekend, placing the eurozone in a comfortable position to overcome Euroscepticism.

Safe-haven assets rallied after North Korea delivered a threatening message to the world, stating that the nation would detonate a hydrogen bomb in the Pacific. The news came after the US posed sanctions on the hermit nation and hours after Donald Trump accused North Korean leader, Kim Jong Un of embarking on a “suicide mission,” adding that if the US is “forced to defend itself or its allies, we will have no choice but to totally destroy North Korea.”

Asian stocks traded lower after the threats from North Korea. The NIFTY 50 is 1.46% lower and China A50 closed 0.10% lower.


The Japanese yen climbed 0.4% against the greenback. Meanwhile, the dollar continues to dip lower, erasing some of the gains made on Wednesday after the Federal Reserve announced it is ending its quantitative easing programme.


International benchmark, Brent oil, is slightly higher, hovering at a five-month high. Crude oil is 0.81% lower, at $50.32.

Gold is 0.24% higher thanks to the heightened geopolitical risks. The precious metal is still trading below the psychological level of $1300, at $1294.