And rightfully so, S&P 500 futures turn negative
China's response that they had in fact implemented retaliatory tariff measures on US goods is starting to weigh in on equities now. European indices are mostly flat right now - a little positive - but we're seeing yen pairs fall as US equity futures slip into the red.
USD/JPY is now near the lows at 110.57, same goes for EUR/JPY and GBP/JPY. The only surprise in all of this so far is the fact that the aussie and kiwi are still holding up well on the session.
I mean Treasury yields have also turned flat and fallen to 2.829% after having touched 2.847% earlier. It seems like it's only a matter of time before the negativity kicks in and we'll see a turnaround in both the aussie and kiwi later.
