Sterling is trading as the weakest one for today so far after suffering some selling in European session. No support is seen for the Pound even though high profile Brexiteer Jacob Rees-Mogg indicated that he might support Prime Minister Theresa May's Brexit deal. However, loss is limited in Sterling as the overall picture remains unclear. For now, it's uncertain whether the government will pull tomorrow's Brexit meaningful vote due to far insufficient support. Staying in the currency markets, Australian Dollar was lifted earlier today by strong rally in Chinese stocks. But it lost some momentum after European markets turned mixed. Also, the Aussie will facing tests from RBA minutes as well as house price data in the upcoming session. Euro picked up some strengthen even though Bundesbank warned of subdued German growth in Q1. Rise in German yield is unpinning Euro for now. Overall, the markets lack clear direction in early US session. In Europe, FTSE is up 0.64%. DAX is down -0.30%. CAC is flat. German 10-year yield is up 0.0094 at 0.095, getting close to 0.1 handle. Earlier in Asia, Nikkei rose 0.62%. Hong Kong HSI rose 1.37%. China Shanghai SSE rose 2.47%. Singapore Strait Times rose 0.40%. Japan 10-year JGB yield rose 0.002 to -0.035. On the data front, Canada international securities transactions rose CAD 28.4B in January. Eurozone trade surplus widened to EUR 17.0B in January, missed expectation of EUR 17.2B. UK Rightmove house price rose 0.4% mom in March. Japan industrial production was finalized at -3.4% mom in January, trade surplus widened slightly to JPY 0.12T in February. |
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