if you are interested in it ,
Get free samples :sales@edabearings.com
The yen rose Tuesday as traders favored the safe-haven currency, the yen, after the United States announced it was considering tariffs on $11 billion of EU goods and the International Monetary Fund downgraded its global economic growth forecast.
These factors have depressed market sentiment, triggered a sell-off of U.S. stocks, and led to a partial reversal of the early rise in oil prices. The fall in crude oil and other commodity prices led to a partial reversal of initial gains in the Canadian dollar, Australian dollar and emerging market currencies.
"The yen is currently doing the best because falling stock markets have depressed risk appetite," said Joe Manimbo, senior market analyst at Western Union Business Solutions.
In late trading in New York, the yen rose 0.34% against the dollar JPY = EBS to 111.12 yen and 0.3% against the euro EURJPY = EBS.
All three major U.S. stock indexes closed down, with the S&P 500 index. SPX down 0.61%, ending the eight-day run of gains.
Brent crude oil futures closed down 0.69% at $70.61 a barrel, hitting a peak of $71.34 since November last year earlier Tuesday.
Russia hinted that it wanted to boost oil output when it met with the Organization of Petroleum Exporting Countries (OPEC), overshadowing the prospect that violence in Libya might further tighten global supply.
The U.S. Trade Representative on Monday put forward a list of EU products, ranging from large commercial aircraft and components to dairy products and wine, with the intention of imposing tariffs on these items in retaliation for EU airplane subsidies. The U.S. Trade Representative's Office (USTR) said the action was in retaliation for more than $11 billion worth of damage caused by EU subsidies to Airbus. The World Trade Organization (WTO) believes that EU subsidies to Airbus have "adverse effects" on the United States.
The International Monetary Fund (IMF) cut its global economic growth forecast for 2019 to 3.3% on Tuesday, the lowest growth rate since 2016, below its forecast of 3.5% in January this year.
PREVIOUS:The IMF says global economic growth has cooled NEXT:U.S. earnings season fears revenue growth gains
