Entering into European session, Australian Dollar is so far the best former for today. It’s partly helped by another day of rebound in Chinese stock markets. Japanese Nikkei also came back from holiday with a rebound. Additionally, better than expected NAB business condition and confidence also give Aussie a pop. But upside momentum is rather weak as the current recovery should be corrective in nature.
For now, Canadian Dollar follows as the second strongest one. WTI crude oil drew support from 51.37 support and is recovering, back at 52.8. Euro is the third strongest, paring some of yesterday’s losses. On the other hand, Yen, New Zealand Dollar and Dollar are the weakest ones so far.
The economic calendar is rather light ahead today. Main focus will be on UK Prime Minister Theresa May’s Brexit statement in the Commons. The US Congress has reached a tentative deal to avert another partial government shutdown. So, focus will turn back to any news regarding US-China trade negotiation.
In Asia:
- Nikkei closed up 2.61%.
- Hong Kong HSI is up 0.09%.
- China Shanghai SSE is up 0.53%.
- Singapore Strait Times is down -0.01%.
- Japan 10-year JGB yield is up 0.0113 at -0.017, staying negative.
Overnight:
- DOW closed down -0.21%.
- S&P 500 rose 0.07%.
- NASDAQ rose 0.13%.
- 10-year yield rose 0.029 to 2.661.
- 30-year yield rose 0.023 to 2.999, just failed to reclaim 3% handle.
