Dollar turns weaker again in early US session after data disappointment. Also, the USDA reported that US farm exports to China will suffer steep decline. Business in the US are eager to know more about the progress of US-China trade negotiation. There are reports that China offers to buy USD 30B more US agricultural products a year. And the two teams are working on multiple MOUs to conclude this week's meetings. But so far, there's no confirmation on any of the rumors yet. Staying in the currency markets, Dollar is just the third weakest one for today, next to Australian and New Zealand Dollar. Aussie was knocked down as Westpac forecast two RBA cuts this year. Then, it suffered further selloff news that China's Dalian port has banned imports of Australian coal. Sterling is the strongest on for today on hope there will be an updated Brexit deal to vote on next week. Euro follows as PMI composite improved in February. In other European markets, currently, FTSE is down -0.87%. DAX is up 0.35%. CAC is up 0.09%. German 10-year yield is up 0.0424 at 0.143. Earlier in Asia, Nikkei rose 0.15%. Hong Kong HSI rose 0.41%. China Shanghai SSE dropped -0.34%. Singapore Strait Times dropped -0.01%. Japan 10-year JGB yield dropped -0.003 to -0.039. |
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