1. Japanese Yen At A Two-Month Low Over US Tariffs
The yen weakened to near two-month lows against the dollar in early Wednesday trade over concerns on fresh U.S. tariffs on Chinese goods. China and the U.S. plunged deeper into a trade war after President Donald Trump levied tariffs on $200 billion worth of Chinese goods. Beijing answered back with over $60 billion worth of fresh tariffs on U.S. goods.*
2. Avon Stock Rallies 14% On Natura Takeover Rumours
Shares of Avon Products, Inc. (AVP) rallied more than 13.9% in after-hours trading on Sep 17 on rumours of a potential takeover by Natura & Co. Natura is the leading Brazilian manufacturer and direct-seller of beauty and personal care products. Analysts believe Natura’s direct-sales business is complementary to Avon’s direct-selling operations. Internationally, Avon’s focus on boosting growth is expected to help Natura expand its footprint. It should be noted however, that Natura is currently denying any buyout talks with Avon.**
3. Oil Prices Climb On Saudi Arabia Comments
After an early hour dip on a surprise climb in U.S. crude stockpiles, oil prices managed to climb back up to one week highs on some very encouraging comments by Saudi Arabia. Specifically Brent oil (CL_BRENT) traded near the highest level in a week after Saudi Arabia was said to be content with the global benchmark crude breaking above $80 a barrel. Brent Oil Futures last traded at $79.22 up 19 cents while Crude WTI futures (USOIL) traded at $69.84, up 25 cent as of 7:15 GMT.***
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*Source: CNBC, Sep 19, 2018 05:02 AM ET
**Source: Reuters, Sep 19, 2018 / 4:16 AM GMT
***Source: CNN money, September 19, 2018: 3:03 AM ET
