Entering into European session, New Zealand Dollar is the weakest one for today. RBNZ’s proposal to raise capital requirements for top banks apparent hurt sentiments towards the Kiwi. Such a move might tighten up financial conditions which eventually force the central bank to cut interest rates again. Yen is trading as the second weakest followed by Canadian. Rally in oil prices appear to be losing some momentum. Loonie will look into retail sales data today for renewed strength.
Australian is the strongest one for today, paring some of this week’s losses. Officials have been trying to talk down the importance of China Dalian port’s ban of Australian coal imports. Swiss Franc and Euro are the next strongest for now.
Over the week, Sterling is still the strongest one despite the lack of concrete breakthrough in Brexit impasse. Swiss Franc is the second strongest, followed by Euro. New Zealand Dollar, Australian Dollar and Yen are the worst performing ones.
In Asia:
- Nikkei closed down -0.18%.
- Hong Kong HSI is up 0.17%.
- China Shanghai SSE is up 1.62%.
- Singapore Strait Times is down -0.26%.
- Japan 10-year JGB yield is up 0.0018 at -0.038.
Overnight:
- DOW dropped -0.40%.
- S&P 500 dropped -0.35%.
- NASDAQ dropped -0.39%.
- 10-year yield rose 0.034 to 2.688
