Entering into US session, Sterling suffering another round of selloff as UK Prime Minister Theresa May arrives in Brussels for the EU summit. For now, it’s uncertainty how she could get pass Commons Speaker Bercow to hold another meaningful vote for her Brexit deal, get the deal approved, and the secure short Article 50 extension within a week before March 29. Stronger than expected UK retail sales look irrelevant for traders for now. BoE and SNB rate decisions were also largely ignored.
Staying in the currency markets, Canadian Dollar is the second weakest despite resilient strength in oil price. Euro is the third weakest, as dragged down very weak German treasury yield. 10-year bund yield is down -0.039 at 0.047, while was was at high as 0.12 just two day ago. The sharp fall in German yield also helps Dollar recover much of the post FOMC losses. New Zealand Dollar is the strongest one for today so far, followed by Yen and then Australian.
- DOW opens slightly lower, down -0.13%.
- S&P 50 is down -0.13%.
- NASDAQ is down -0.04%.
In Europe, currently:
- FTSE is up 0.23%.
- DAX is down -0.92%.
- CAC is down -0.43%.
- German 10-year yield is down -0.037at 0.047.
Earlier in Asia:
- Japan was on holiday.
- Hong Kong HSI dropped -0.85%.
- China Shanghai SSE rose 0.35%.
- Singapore Strait Times rose 0.19%.