Entering into US session, return of risk appetite helps lift Australian and New Zealand Dollar today. Sterling and Euro are also firmer but we’re not seeing any follow through buying the these four currencies yet. It takes some more time to confirm their underlying momentum. The Pound is partly supported by EU’s formal endorsement of the Brexit withdrawal agreement. Euro and European stocks rise on news that Italy is finally being flexible to adjust its budget plan. The slightly weaker than expected German Ifo reading was ignored. On the other hand, Yen, Dollar and Swiss Franc are the weakest ones.

In European markets, at the time of writing:

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  • FTSE is up 0.79%
  • DAX is up 1.24%
  • CAC is up 0.91%
  • German 10 year yield is up 0.0152 at 0.359
  • Italian 10 year yield drops sharply by -0.1672 to 3.247
  • German-Italian spread is now at 288, back below 300 alarming level

Earlier in Asia

  • Nikkei rose 0.76% to 21812.00
  • Hong Kong HSI rose 1.73% to 26376.18
  • Singapore Strait Times rose 1.34% to 3093.38
  • However, China Shanghai SSE dropped -0.14% to 2575.81. This is a risk to the global markets

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