Entering into US session, Euro is overwhelmingly the weakest one today after shockingly poor German PMI manufacturing, which dropped to 71-month low at 44.7. Australian Dollar follows closely as second on risk aversion while Canadian is the third weakest.
For the same reasons, Yen is the strongest one for today. Sterling is the second strongest after EU granted UK more weeks to get the Brexit deal through the parliament, until April 12. Dollar is the third weakest.
Development in the bond markets are particularly worth nothing. Firstly, German 10-year bund yield hit at low as -0.01, turned negative for the first time since 2016. Secondly, the most accurate indicator of recession in US, yield curve between 3-month and 10-year, inverts. US 10-year yield is down -0.064 at 2.469 now. 3-month yield is at 2.474.
In Europe:
- FTSE is down -1.32%.
- DAX is down -0.72%.
- CAC is down -1.19%.
Earlier in Asia:
- Nikkei rose 0.09%.
- Hong Kong HSI rose 0.14%.
- Singapore Strait Times dropped -0.05%.
- Japan 10-year JGB yield dropped -0.037 to -0.072.
