Entering into US session, Swiss Franc and Yen are among the weakest today as global stocks recover. Sterling is also soft as traders turned cautious ahead of crucial Brexit votes this week. UK Prime Minister Theresa May’s just confirmed that the Brexit deal meaningful vote will happen tomorrow. And, talks with EU on a solution to the Irish backstop were continuing. Meanwhile, Euro recovers broadly today but upside is relatively limited.
Released in European session, German industrial production dropped -0.8% mom in January versus expectation of 0.50% mom. Trade surplus narrowed to EUR 18.5B in January. From Asia, Japan machine tools orders dropped -29.3% yoy in February, M2 rose 2.4%. Focus will now turn to January retail sales fro the US. December’s numbers were disastrous and we’ll see if sales rebound this year.
In Europe, currently:
- FTSE is up 0.58%.
- DAX is up 0.40%.
- CAC is up 0.35%.
- German 10-year yield is down -0.0026 at 0.068.
Earlier in Asia:
- Nikkei rose 0.47%.
- Hong Kong HSI rose 0.97%.
- China Shanghai SSE rose 1.92% to 3026.99, back above 3000.
- Singapore Strait Times dropped -0.14%.
- Japan 10-year JGB yield dropped -0.0033 to -0.035.
