Market sentiments generally stabilized today after initial selloff in Asia. While major European indices are still in red, losses are so far very limited. German 10-year bund yield even managed to turn positive briefly. Better than expected German Ifo Business Climate gave sentiment a mild lift. Yet, the picture isn't cleared as manufacturing sector remained weak. With an empty economic calendar in North America, focus will turn to Brexit debate in the Commons. UK Prime Minister Theresa May just completed her Cabinet meeting without any comments to the press. The discussions there were reported to be positive but inconclusive. It's now uncertain whether indicative vote on Brexit will be tabled today, or will be pushed after another meaningful vote on Tuesday. Meanwhile, there seems to be a tacit understanding that for some Brexiteers, May's future is linked to the MV3. In the currency markets, Yen and Canadian Dollar are currently the weakest ones, followed by Dollar. Sterling recovered some ground but remains clueless. Australian and New Zealand Dollar are the strongest ones. In Europe, FTSE is down -0.65%. DAX is down -0.04%. CAC is down -0.12%. German 10-year bund yield is up 0.0034 at -0.008. Earlier in Asia, Nikkei dropped -3.01%. Hong Kong HSI dropped -2.03%. China Shanghai SSE dropped -1.97%. Singapore Strait Times dropped -0.91%. Japan 10-year JGB yield dropped -0.119 to -0.085. |
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