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Market In Turmoil: Gold Spikes, Yuan Crashes, Stocks Plunge As Asia Opens

Courtesy of ZeroHedge View original post here.

In early Asia trading, offshore yuan has extended Friday’s collapse, testing the lower edge of the PBOC’s Yuan trading band once again.

Yuan traded as weak as 7.1925 against the USDollar…

Source: Bloomberg

Pressuring the weaker end of the Yuan peg band…

Source: Bloomberg

At the same time, USDJPY is tumbling (Yen strength), testing the lows of the flash-crash from early January…

Source: Bloomberg

Spot Gold has exploded higher, testing $1550…

Source: Bloomberg

With gold rising and yuan plunging, the Chinese currency is at its weakest against the precious metal since 2012…

Source: Bloomberg

US Equity futures are reeling with Dow Futures down over 400 more points…

Treasury futures opened up dramatically, implying a 10Y yield of around 1.36% (around 8bps lower in yield).

Source: Bloomberg

And oil prices are plunging…

Turmoil is coming.


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