Entering into US session Euro is trading as the weakest one for today. The common currency is weighed down by a Bloomberg report saying that ECB staff have begun studying a revamp of their inflation target. Lowering the “below, but close to, 2%” inflation objective could embolden policy makers to pursue monetary stimulus for longer. On the other hand, Sterling is boosted strongly higher by much better than expected UK retail sales.
Looking ahead, US data are the major focuses in the upcoming session Initial jobless claims and leading indicator will be featured. But more attention could be on Philadelphia Fed business outlook. It’s be repeated said by Fed officials that consumer spending remained strong. But businesses turned more cautious in investment, due to uncertainties on trade and global slowdown. Fed’s insurance cut, if any, is directed to this uncertainty issue.
In Europe, currently:
- FTSE is down -0.40%.
- DAX is down -0.51%.
- CAC is up 0.12%.
- German 10-year yield is down -0.022 at -0.310.
Earlier in Asia:
- Nikkei dropped -1.97%.
- Hong Kong HSI dropped -0.46%.
- China Shanghai SSE dropped -1.04%.
- Singapore Strait Times dropped -0.11%.
- Japan 10-year JGB yield dropped -0.011 to -0.136.