Broad based US dollar tepid-recovery was witnessed in Asia after the US Treasury Secretary nominee Mnuchin’s jawboning the US currency. While markets remained on a cautious footing ahead of the UK Supreme Court Brexit decision due later at 0930GMT in the European session ahead.
The United Kingdom's Supreme Court is due to announce a ruling regarding the government's ability to bypass parliament and initiate the Brexit by triggering Article 50. Markets are pricing-in the UK lawmakers to ask PM May for a soft Brexit. This is event is expected to emerge the main market moving event today.
Besides, we have a series of flash manufacturing PMI releases from across the Euro area as well as US, while existing home sales data from the US docket will be also closely eyed.
Main topics in Asia
UK: Key event today to be the Supreme Court’s ruling on Article 50 - TDS
Research Team at TDS suggests that the key event today in UK will be the Supreme Court’s ruling on Article 50 at 9:30am GMT.
Eurozone: Focus on PMI figures – Danske Bank
Research Team at Danske Bank suggests that in the euro area, the PMI figures are due to be released and will be the key economic release for today’s session.
UK PM May set to defy EU by opening pre-Brexit global trade talks – BBG
A senior UK official said Tuesday on conditions of anonymously, the UK PM May’s team plans to start trade talks around the world, after she triggers the Article 50 by March-end.
Key focus for the day ahead
U.S. Treasury Mnuchin: "Excessively strong" USD may be negative in the short term
The U.S. Treasury Secretary nominee Steven Mnuchin was on the wires last minutes, via Reuters, highlighting that an excessive USD strength could be "negative" in the short-term.
NZ government to increase minimum wage to $15.75
The minimum wage will rise by 50 cents to $15.75 an hour on 1 April, the New Zealand government announced today.
Goldman Sachs: US economy is in 'pretty decent shape'
In an interview with Bloomberg TV, Jan Hatzius, chief economist at Goldman Sachs, commented on the US economic outlook in wake of Trump’s presidency.
Japan PM Abe: Japan considered the TPP a “global standard”
The Wall Street Journal (WSJ) reporting comments from the Japanese Prime Minister Shinzo Abe, noting that he would continue to advocate free trade.), despite President Donald Trump’s decision to withdraw from the deal.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD risks a deeper drop in the short term
AUD/USD rapidly left behind Wednesday’s decent advance and resumed its downward trend on the back of the intense buying pressure in the greenback, while mixed results from the domestic labour market report failed to lend support to AUD.
EUR/USD leaves the door open to a decline to 1.0600
A decent comeback in the Greenback lured sellers back into the market, motivating EUR/USD to give away the earlier advance to weekly tops around 1.0690 and shift its attention to a potential revisit of the 1.0600 neighbourhood instead.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Bitcoin price shows strength as IMF attests to spread and intensity of BTC transactions ahead of halving
Bitcoin (BTC) price is borderline strong and weak with the brunt of the weakness being felt by altcoins. Regarding strength, it continues to close above the $60,000 threshold for seven weeks in a row.
Is the Biden administration trying to destroy the Dollar?
Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.