 The forex markets are having no clear direction for the moment. In particular, positive data from Europe were generally ignored by currencies even though yields and stocks are lifted. At the same time, there is no clarity regarding Brexit after Commons Speaker John Bercow ruled out meaningful vote on the same Brexit deal yesterday. Sterling edged higher earlier in European session but quickly retreated back. Prime Minister Theresa May may finally tell us what's next after her Cabinet meeting. Staying in the currency markets, Canadian Dollar is currently the strongest one for today, with help from oil prices. However, it should be noted that WTI crude oil, hitting 59.80, is now in key resistance zone around 60 and reversal could happen any time. New Zealand Dollar is the second strongest, followed by Euro. Australian Dollar, Dollar and Yen are the weakest ones. Nevertheless, given than most pairs are stuck in tight range, the picture can easily change in US session. In other markets, FTSE is currently up 0.53%. DAX is up 1.13%. CAC is up 0.54%. German 10-year yield jumps 0.029 to 0.117, back above 0.1 handle. Earlier in Asia, Nikkei dropped -0.08%. Hong Kong HSI rose 0.19%. China Shanghai SSE dropped -0.18%. Singapore Strait Times rose 0.25%. Japan 10-year yield dropped -0.008 to -0.044. |
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