Global stock markets are generally higher today, continuing to ride on trade optimism. White House economic adviser Kevin Hassett added to the positive mood and said US Trade Representative Robert Lighthizer has made a lot of progress with China. And the deal may be finished some time soon. Also, WSJ reported that a signing summit could be held on March 27. On the other hand, EU-US trade negotiations will also start this week. The currency markets are relatively quiet though. Euro is trading as the weakest one today despite better than expected investor confidence data. Pull back in German yield could be a factor weighing on the common currency. Swiss Franc is follows as the second weakest and then Canadian. New Zealand and Australian Dollars are the strongest one for today so far. But gains are limited as traders guard against any dovish twist in RBA statement tomorrow. Nomura follows Westpac and forecasts RBA to cut interest rate by 50bps this year. In other markets, FTSE is currently up 0.66%. DAX is up 0.24%. CAC is up 0.76%. German 10-year yield is down -0.0156 at 0.171. Earlier in Asia, Nikkei rose 1.02%. Hong Kong HSI rose 0.51%. China Shanghai SSE rose 1.12%. Singapore Strait Times rose 0.95%. Japan 10-year JGB yield rose 0.0103 to 0.002, turned positive. |
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