Sterling turns mixed as markets await yet another vote about Brexit in the Commons today. MPs is now given a chance to vote for delaying Brexit beyond March 29. The question is whether it would be a short delay with a plan, a short delay without a plan, or a long delay without a plan. We'll soon find out. After the vote, Prime Minister Theresa May will write to the President of the European Council to request for Article 50 extension, with reason and time. For now, Australian Dollar is the weakest one for today, followed by New Zealand Dollar. Dollar is the strongest one, followed by Swiss Franc. Weak data from China which suggests longer slowdown weighed slightly on sentiment. Also, there are reports that the trade negotiation with US is dragging on. The anticipated Trump-Xi summit is postponed to April at least. Euro is firm as the third strongest even though both German Economy Ministry and Ifo institute expect just modest growth in the country ahead. Technically, there is no special development so far. The recovery in Dollar is not strong enough to warrant completion of recent corrective pull back yet. Though, USD/CHF is recovering ahead of 1.0027 minor support. Also, USD/CAD also recovers after breaching 1.3301 minor support. More upside in these two pair will reinforce near term bullishness in the greenback. In Europe, FTSE is up 0.46%. DAX is up 0.40%. CAC is up 0.65%. German 10-year yield is up 0.0095 at 0.075. Earlier in Asia, Nikkei dropped -0.02%. Hong Kong HSI rose 0.15%. China Shanghai SSE dropped -1.20% to 2990.69, below 3000. Singapore Strait Times rose 0.07%, Japan 10-year JGB yield rose 0.0053 to -0.04. |
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