Itchy Brexit trigger fingers are due for a hearty scratch this week with Theresa May, Britain’s prime minister, days away from notifying the EU on the country’s plans to leave the bloc.
Discussions about Brexit are likely to feature heavily this week, but for the most part investors are still a bit unnerved by Republican leaders on Friday scrapping a keenly-anticipated vote on US health care reform. Wall Street’s S&P 500 slipped 0.1 per cent at the end of last week, setting the stage for declines in Asia today.
Japan’s Topix was down 1.5 per cent as the yen again found itself strengthening through the ¥111 barrier with its ninth advance in 10 sessions. Australia’s S&P/ASX 200 was on track to close 0.2 per cent lower as declines for commodity prices, such as iron ore, led to falls for the heavyweight miners including BHP Billiton and Rio Tinto. Hong Kong’s Hang Seng shed 0.4 per cent.
Today’s economic calendar is a light one (London times):
- 09.00: eurozone M3 money supply
- 09.00: Germany IFO survey
- 09.00: Italy consumer/economic/manufacturing confidence