Sterling recovers broadly today as lifted by stronger than expected wage growth. A key BoE official also noted that interest rate might have to rise more quickly than market expected. Though, upside of the Pound is capped so far, by Brexit uncertainty and worries over slowdown if such uncertainty is not resolved soon. Euro is also firm as second strongest, shrugging off poor Sentix Investor confidence which indicates Eurozone is on the verge of recession. On the other hand, New Zealand Dollar is the weakest one for today. Yen and Swiss Franc are pressured by return of risk appetite. In other markets, DOW open higher again and is currently up 0.48%. 10-year yield is up 0.012 at 2.155. In Europe, FTSE is up 0.55%. DAX is up 1.43%. CAC is up 0.86%. German 10-year yield is down -0.0159 at -0.232. Earlier in Asia, Nikkei rose 0.33%. Hong Kong HSI rose 0.76%. China Shanghai SSE rose 2.58%. Singapore Strait Times rose 0.67%. Japan 10-year JGB yield rose 0.0109 to -0.11. Released in US, PPI rose 0.1% mom 1.8% yoy in May, versus expectation of 0.1% mom, 1.9% yoy. PPI core rose 0.2% mom, 2.3% yoy versus expectation of 0.2% mom, 2.3% yoy. |
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