Title - Euro at risk, Sterling awaits Court Ruling
Created 09/24/2019 at 09:13AM
AUD and CAD are the top G10 FX gainers today, up 0.1% and 0.08% vs the dollar while SEK and JPY are the top losers, down -0.19% and -0.09% vs the dollar.
Euro improved slightly but remained near the $1.10 handle after weak euro area data. The market is concerned over the euro area growth despite the stimulus by the European Central Bank earlier in the month.
The pound is poised before the Supreme Court rules on whether UK PM Boris Johnson misled the Queen when he asked her to suspend parliament. The top court's decision will be announced at 0930 GMT but we don't expect a sharp move in sterling either way.
In the Asian equities space, the Nikkei 225 closed up 0.09% at 22,098.84, Hang Seng closed 0.22% at 26281.0 and Kospi ended 0.45% at 2101.04. The European equities were trading mixed with the FTSE 0.09% at 7332.43, DAX -0.01% at 12341.57, and CAC 0.15% at 5639.08. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.7111% and the Bund 10-year yield trading at -0.577%. In the energy space, the Brent (front month) is trading down (-0.86%) for the day at $64.21.
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