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
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.
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.
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
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.
The minimum wage will rise by 50 cents to $15.75 an hour on 1 April, the New Zealand government announced today.
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.
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.
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