Dollar and Yen remain the strongest one in mid-US session, after European close. However, for now, it’s uncertain whether they can sustain the gains before US close. Risk aversion is a key driver in the strengthen of them. But judging from the actions in the US markets, it’s hard to say whether the major indices will close the day up or down. DOW dropped to as low as 25479 initially but is now down just -0.14% at 25763. S&P 500 dropped top as low as 2781 but it’s now up 0.13% at 2814. Similarly, NSDAQ dropped to as low as 7563 but it’s now up 0.04% at 7468.
On the other hand, Canadian overtook Sterling’s place as the weakest one after larger than expected oil inventory increase sent WTI crude oil to 70. Selling pressing in oil and the Loonie could persist. Sterling was sold off earlier today after UK CPI miss and stays week. The Pound fate will depend on the outcome of the “moment of truth” EU summit.
In Europe:
- FTSE dropped -0.07% to 7504.60
- DAX dropped -0.52% to 11715.03
- CAC dropped -0.54% to 5144.95
- German 10 year yield dropped -0.0293 to 0.465
- Italian 10 year yield rose 0.0841 to 3.545.
