Inflation data is the dominant market drivers today. Entering into US session, Sterling is trading as the strongest one today on faster than expected wage growth data. The Pound also reversed all the earlier losses due to Brexit jitters and is now the second strongest for the week. New Zealand Dollar is the second strongest one after Q3 CPI beat market expectations.
On the hand other, Yen is the weakest one for today as markets sentiments generally stabilized. Asian stocks ended the day mixed while DAX and CAC are trading higher. Swiss Franc is trading as the second weakest one.
A snapshot of the European markets:
- FTSE is down -0.19%
- DAX is up 0.63%
- CAC is up 0.50%
- German 10 year bund yield is down -0.0058 at 0.499
- Italian 10 year yield is also down -0.071 at 3.483.
- That is, German-Italian spread is back below 300
Earlier in Asia:
- Nikkei rose 1.25%
- Hong Kong HSI rose 0.07%
- China Shanghai SSE dropped -0.85% to 2546.33. It actually breached last week’s low of 2536.66 to 2536.44
- Singapore Strait Times dropped -0.38%.
- 10 year JGB yield rose 0.005 to 0.149
