Entering into US session, Sterling is the strongest one for today followed by Euro. The Pound is apparently lifted by news that Prime Minister Theresa May is targeting to conclude Brexit negotiation with Labour by mid next week. Euro’s rally was more solidly triggered by a string of stronger than expected data. Eurozone GDP grew 0.4% qoq versus expectation of 0.3% qoq. Germany CPI also accelerated sharply to 2.0% yoy in April, up fro 1.3% yoy and beat expectation of 1.5% yoy.
On the other hand, Australian Dollar remains the weakest ones for today as weighed down by China PMI misses. Sustainability of post lunar new year seasonal rebound in Chinese economy is in serious doubt. Swiss Franc, New Zealand and Canadian Dollar are among the next weakest. In particular, Loonie is dragged down by unexpected contraction in Canadian GDP in February.
In Europe, currently:
- FTSE is down -0.23%.
- DAX is down -0.19%.
- CAC is down -0.29%.
- German 10-year yield is up 0.0395 at 0.046.
Earlier in Asia:
- Hong Kong HSI dropped -0.65%.
- China Shanghai SSE rose 0.52%.
- Singapore Strait Times dropped -0.2%.
- Japan remains in ultra-long 10 days holiday.
