Swiss Franc’s selloff pick up momentum in a rather quiet day today. USD/CHF has broken 0.9963 resistance while EUR/CHF is pressing 1.1348. More downside is in favor in the Franc. But it’s just the second weakest one, next to New Zealand Dollar. Australia Dollar and Canadian Dollar follow even though there is no clear sign of risk aversion. WTI crude oil is also staying firm at around 54. Meanwhile, Yen is the strongest one in very tight range, followed by Euro and Sterling. Overall, the forex markets are mixed except for that weakness in Franc.
The US markets are on Martin Luther King Day holiday today. Main focus is across the Atlantic on UK Prime Minister Theresa May’s Brexit plan B. She’s due to make a statement in the parliament at 1530 GMT. Her spokesman said the Brexit will have to be changed if it’s to be approved by lawmakers. And there were talks going on to understand what exact changes are needed.
Currently in European markets:
- FTSE is up 0.13%.
- DAX is down -0.45%.
- CAC is down -0.16%.
- German 10 year yield is down -0.013 at 0.251.
Earlier in Asia:
- Nikkei rose 0.26%.
- Hong Kong HSI rose 0.39%.
- China Shanghai SSE rose 0.56%.
- Singapore Strait Times dropped -0.12%.
- Japan 10-year JGB yield dropped -0.0099 to 0.004, stayed positive.